JERUSALEM (AP) -- The Israeli president's office is confirming that Prime Minister Benjamin Netanyahu has canceled early elections.
In a statement early Tuesday, President Shimon Peres' office said that Netanyahu had informed the president that he has reached an agreement with the leading opposition party, Kadima, to form a broad-based coalition government.
That agreement overrides Netanyahu's announcement Monday that his governing coalition would seek early elections.
The statement from Peres' office confirms media reports earlier Tuesday that the elections were off.
The dramatic turn of events could influence any decision on a possible Israeli strike on Iran. Kadima's leader Shaul Mofaz, a former military chief and defense minister, has been a vocal critic of Israel striking Iran's nuclear sites on its own.