Elon Musk plans to go ahead with original price of $54.20 a share for Twitter, says report

Musk made the proposal in a letter to Twitter, Bloomberg reported, citing people who asked not to be identified discussing confidential information.

Twitter and Musk’s lawyers were not immediately available for requests for comment from Reuters.

The news comes ahead of a highly anticipated faceoff between Musk and Twitter at Delaware’s Court of Chancery on October 17, in which the social media company was set to seek an order directing Musk to close the deal at $54.20 per share.

Musk agreed in April to buy Twitter for $44 billion, but within weeks said the number of bot accounts was much higher than Twitter’s estimate of less than 5% of users.