A judge has delayed a looming trial between Twitter and Elon Musk, giving him more time to close his $44 billion deal to buy the company.
Musk had asked to halt the upcoming Delaware court trial, where the Tesla billionaire was expected to fare poorly against Twitter’s lawsuit to force him to complete his April merger agreement. Musk revived the takeover offer on Monday but said he needed time to get the financing in order.Sign up to receive daily headline news from the Ottawa SUN, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
Twitter disputed Musk’s claim that the San Francisco-based company is refusing to accept his renewed bid. Musk told Twitter earlier this week he’s ready to buy the company once again after trying to back out of the deal over the summer, accusing it of refusing to give him information about “spam bot” accounts on the service.
Brooklyn Law School professor Andrew Jennings said Twitter wants to be certain that the deal will get done and not allow “wiggle room for Musk to walk away again.” They said Musk’s financial backers “have indicated that they are prepared to honor their commitments” and are working to close the deal by Oct. 28.
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