Judge Grants Musk Brief Delay to Close Twitter Acquisition
A Delaware judge gives Elon Musk until October 28 to finalize his $54.20 per share purchase of Twitter. Twitter strongly opposes the delay, accusing Musk of seeking further mischief after previously trying to back out of the deal.
A Delaware Chancery Court judge grants Elon Musk a brief reprieve in the ongoing Twitter legal battle, extending the deadline to close the acquisition to October 28. Musk requests this delay so his team can secure the necessary financing without the distraction of an impending trial. He states his intention to return to the original agreement to buy the social media company for $54.20 per share.
Twitter firmly rejects Musk's request to halt the October 17 trial, calling his sudden willingness to close the deal disingenuous. The company's legal team argues that Musk's proposal acts as an invitation for further mischief and delay, pointing out that he only makes this reversal just days before the trial is set to commence. Twitter originally sues Musk in July to force him to honor the April purchase agreement after he attempts to walk away.
This legal standoff creates high stakes for both parties as the revised October 28 deadline approaches. While Twitter shareholders already approve the original purchase price in September, the social media giant remains highly skeptical of Musk's last-minute change of heart. The judge's ruling keeps the trial on the table as a consequence if Musk fails to deliver the promised funding by the new date.