Kathleen McCormickjudge of the Chancery court in Delaware, put in pause the process from Twitter ed Elon Musk. The billionaire’s lawyers have asked for a motion after the resumption of negotiations for the sale of the social network. But the judge warns: if by October 28 they do not find an agreement, the process starts again in November.
The Twitter vs Elon Musk trial on hiatus until October 28
“If the transaction does not close by 5 pm on 28 October 2022, the parties have instructions to contact me by email that same evening to obtain the court dates of November 2022 ″ writes McCormick.
The decision to pause the trial comes that Musk has again offered $ 54.20 a share to buy Twitter, as he had proposed this spring. The transaction would therefore be worth 44.4 billion dollars, even if in recent weeks Musk’s lawyers have tried in vain to get a discount to buy the social network.
The knots to untie, however, are many. With Bloomberg reporting that Musk wants a written note in the deal about the possibility of suing Twitter for the number of bots on the platform. And with Twitter that, considering how quickly Musk has changed his mind in the pastdoes not want to drop the lawsuit until the shareholders have been paid, according to the New York Times.
Musk’s lawyers, who would have preferred an annulment instead of a simple suspension, wrote that “Twitter won’t take yes for an answer”, accusing the company of wanting to blow up the deal. An agreement that their assisted blew up just a few months ago.
The situation therefore still seems far from a definitive solution. We will keep you informed.