Elon Musk’s monthslong tussle with Twitter took another twist this week after the Tesla billionaire seemed to return to where he started in April — offering to buy the company for $44 billion.
FILE - A sign is pictured outside the Twitter headquarters in San Francisco, Monday, April 25, 2022. Trading in shares of Twitter were halted, Tuesday, Oct. 4, after the stock spiked on reports that Elon Musk would proceed with his $44 billion deal to buy the company after months of legal battles.when the Tesla billionaire seemed to return to where he started in April — offering to buy the company for $44 billion.
On Wednesday, the judge presiding over the case said she will “continue to press on toward our trial” because neither side has formally moved to stop it.Chancellor Kathaleen St. Jude McCormick, the Delaware Chancery Court's head judge, hasn’t explicitly weighed in on Musk’s new proposal, but in a Wednesday ruling on an unrelated evidence dispute she made clear that nothing had changed.
Musk's lawyer told Twitter this week that the Tesla CEO will complete the deal as long as he lines up the promised debt financing and provided that the Delaware Chancery Court drops Twitter’s lawsuit against him. But Twitter is unlikely to give up on its legal proceedings unless it confirms that the deal is for real this time and not a tactical gambit.
, saying it was important to avoid an emergency stock sale if the deal were forced to close and “some equity partners don’t come through.”announced he had strengthened his stake
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