Elon Musk will buy Twitter for $44 billion after all

The company said it's ready to move in a selling vector. It intends to close the deal at $54.20 a share, according to an October 4 notice.

According to a notice filed by Musk's attorneys on October 3 in Delaware Chancery Court, which oversaw the process, Musk is ready "to proceed to close the transaction contemplated by the Merger Agreement of April 25, 2022."

Again we remind you, in case you've forgotten. This comes after months of legal drama with the social media platform, with Musk trying to reject the deal, citing Twitter's lack of transparency about spam bots, fake accounts, and the financial health of the business...

Musk's proposed deal is subject to an "immediate stay of the lawsuit," a deferral of litigation, and pending funding. 

The news that Musk could become the new owner of the social media platform sparked a mixed reaction from the Twitter user community.

Dogecoin creator Bill Marcus, also known on Twitter as Shibetoshi Nakamoto, told his 1.7 million followers that "if Elon Musk makes Twitter better, Twitter will be better," then added: "If Elon Musk ruins Twitter, we won't have to hear all the stupid things people say on Twitter anymore. It's a win-win."

According to Nasdaq data, Twitter's stock price has jumped 22.24 percent to $52 a share in the past 24 hours.