Few M&A transactions have captured the public's attention to quite the same degree as the ongoing saga surrounding Elon Musk's bid to take Twitter private. What began as a simmering hostile takeover, evolved into a negotiated transaction that was then terminated by Musk and landed in the Delaware Court of Chancery for what looked like would be a protracted legal battle.

In the latest twist, Musk has now reversed course once again and stated that he would honor his original deal to purchase the social media company at the previously agreed amount of $44 billion on the condition that Twitter drops its lawsuit. Twitter, for its part, has indicated that it had received Musk's letter and reiterated the company's intention to close the deal.