Elon Musk is reportedly set to go ahead with his proposed takeover of Twitter at his originally proposed figure of $54.20 per share, Bloomberg reported on midday Tuesday.

Musk reportedly made the proposal in a letter to Twitter, according to “people familiar with the matter” who spoke to the publication, who asked not to be identified discussing confidential information.”

Shares surged by as much as 18% on news that the Tesla CEO had planned to go ahead with the purchase of the social media platform. 

Prior to the report, Musk was embroiled in a legal dispute with Twitter’s board of directors over the sale of the platform, with his repeated insistence that the company was simply not forthcoming with its bot and spam account numbers. He wanted to back out of the deal. 

In April, Musk agreed to buy Twitter for $44 billion — or $54.20 per share.