Khan, who had prevailed on Mulayam to revoke the expulsion of Akhilesh and cousin Ram Gopal Yadav before they "removed" him from the party president's post, said he will do what he can to bring about a rapprochement.
"Anything is possible. Who would have thought that their expulsion would be revoked," he told reporters.
A bitter critic of Mulayam's close aide Amar Singh, Khan is seen as the party's Muslims face and has maintained a neutral profile in public during the ongoing feud.
Even if the UP assembly poll dates are announced it will not mean that all doors on their unity are closed, he said.
Asked if the fight will adversely impact Muslim voters, a durable support base of the party, he said they would never want the SP government to go and will work to prevent the BJP from coming to power.
"They are upset and worried but there is still time left," he said.
To questions about removal of Mulayam by the rival faction, Khan claimed he was not informed much about the recent developments.
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