It is almost a fact: now it seems that, finally, Elon Musk is going to buy Twitter.
This Thursday, October 6, Elon Musk was supposed to go to the US courts to testify before Twitter’s lawyers, but both parties agreed to suspend the presentation.
The reason: Twitter and Musk are in a meeting fine-tuning the details of closing the $44 billion purchase of the social network, according to different but consistent reports from Financial Times Y Bloomberg.
Musk was due to testify this Thursday and Friday at Tesla’s headquarters in Austin, Texas, before Twitter’s lawyers, starting at 9 AM Western United States time.
It was a statement prior to the start of the trial on October 17.
The original date of the declaration was September 28 and 29, but it was postponed due to an issue related to the coronavirus of one of those who had to be present.
According to what is published by the US media, the parties are working to close the agreement, after The South African tycoon will tell Twitter this week that he is willing to go ahead with his original offer of $54.20 per share.
According to him New York TimesActually, Musk earlier tried to lower the offer, but was unsuccessful.
Musk announced his offer on Twitter in April 2022, but three months later he tried to withdraw it, arguing that the social network had misrepresented the number of bots and fake accounts on the platform.
Twitter sued the tycoon and the trial was to begin this month. In fact, it has not been canceled yet and should start on October 17.
Elon Musk could still get out of the Twitter buyout
Musk has now agreed to move forward with the purchase of Twitter, but, of course, as long as Twitter drops the lawsuit against him.
However the Financial Times says that the negotiations are being delayed because the social network fears that the tycoon could still try to get out of the agreement if he does not obtain financing for about 13 billion dollars you need.
According to US media, the CEO would be trying to add a new clause that would allow him to withdraw if he does not get that financing. Something that Twitter, of course, rejects.
Twitter wants the agreement to be clear and precise and for the Court to guarantee that Musk will close the deal.
As it stands, the trial is still scheduled to start on October 17. So far, the parties have not filed a stay request, the Delaware court handling the case said.
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