A judge has delayed a looming trial between Twitter and Elon Musk, giving Musk more time to close his $44 billion deal to buy the company after months spent fighting to get out of it.
A judge has delayed a looming trial between Twitter and Elon Musk, giving the Tesla CEO more time to close his $44 billion deal to buy the company after months spent fighting to get out of it.
Chancellor Kathaleen St. Jude McCormick, head of the Delaware Chancery Court, said Thursday that Musk and Twitter now have until Oct. 28 to close the deal. A trial originally set for Oct. 17 will happen in November if they don't, she said.Twitter had asked McCormick earlier Thursday to proceed with the trial, saying the billionaire refuses to accept the "contractual obligations" of his April agreement to buy the social media and take it private.
The company has been seeking a court order to force the completion of the merger and said it intends to close the deal at the agreed-upon price, but described Musk's move to delay the trial as "an invitation to further mischief and delay.""But they aren't. Instead they refuse to commit to any closing date," said the letter from Twitter lawyer Kevin Shannon.
Eric Talley, a Columbia University law professor, tweeted Thursday that Twitter "is absolutely right not to take `yes' for an answer, and everyone knows why. ." He added that Twitter would, however, take a "certified bank transfer" from Musk.
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