By Matt O’Brien | Related Press
Elon Musk’s monthslong tussle with Twitter took one other twist Tuesday when the Tesla billionaire appeared to return to the place he began in April — providing to purchase the corporate for $44 billion.
However it’s not over but. Twitter says it intends to shut the deal on the agreed-upon worth, however the two sides are nonetheless booked for an Oct. 17 trial in Delaware over Musk’s earlier makes an attempt to terminate the deal.
DOES ELON MUSK OWN TWITTER YET?
No, he doesn’t personal Twitter and it’s nonetheless not clear if or when he would take it over. What occurred this week is that his lawyer despatched a letter to Twitter saying Musk will full the deal so long as he strains up the promised debt financing and supplied that the Delaware Chancery Courtroom drops Twitter’s lawsuit in opposition to him. However Twitter is unlikely to surrender on its authorized proceedings except it confirms that the deal is for actual this time and never a tactical gambit.
WHAT HAPPENS NEXT?
The choose presiding over the Delaware case hasn’t but publicly weighed in on Musk’s new proposal, however what she says might decide the following steps.
Twitter’s deposition of Musk — set to start Thursday — and even the Oct. 17 trial itself might nonetheless go ahead if Twitter isn’t assured that the deal is closing, mentioned Ann Lipton, an affiliate legislation professor at Tulane College.
“Twitter isn't going to let that continuing cease till it will get that 100% reassurance,” she mentioned.
But when the deal does undergo, Lipton mentioned Musk could possibly be answerable for Twitter in a matter of days — nonetheless lengthy it takes him and his co-investors to line up the money.