Reports: Musk makes U-turn before trial, tells Twitter he’ll complete merger

According to a report, Musk said he is willing to buy the company again at the original price.

For the original offer price of $54.20 a share, Mr. Musk is proposing to buy the company. According to people familiar with the matter, Musk made the proposal in a letter to the micro-blogging site.

According to the Wall Street Journal, Musk's lawyers wrote a letter to the Delaware Chancery Court ahead of an emergency hearing on the matter on Tuesday.

Less than two weeks before a trial is scheduled to determine if Musk would have to go through with the deal, there are reports. Musk tried to back out of the deal after agreeing to buy it. A five-day trial is scheduled to begin on October 17 in the Delaware Court of Chancery, where a lawsuit was filed against Musk. Musk was going to give a deposition later this week.

The two sides wouldn't have to go through with the trial if the proposal was accepted. There is no guarantee that the trial will go ahead as planned.

The trading of the stock was stopped. The stock price went up almost 13 percent after trading resumed.

Musk tried to exit merger based on spam claims

The Delaware court ruled against Musk. The judge denied the request to delay the trial. She said that delay endangers the sellers.

Musk's attempt to leave the merger is based on his claim that the estimates of the number of users on the micro-messaging service are incorrect. Musk's attempt to prove the estimate wrong was aided by a tool that labeled his own account a likely bot. It is argued that Musk has no right to leave the deal because he did not do enough research.

The story is evolving and will be updated.