Elon Musk’s lawyers asked a court on Thursday (October 6) to stop Twitter’s lawsuit against the Tesla boss to force him to buy the social network under a buyout agreement signed in April.
They claim the multi-billionaire offered to honor his commitment on Monday and expressed remorse for Twitter “insists on continuing the procedure, jeopardizing the deal and playing with the interests of the shareholders”.According to a legal document discussed by AFP. On Monday, Elon Musk took to Twitter to offer to buy the company as originally planned for $44 billion, as long as he raised the necessary funds and the board dropped its claims. The San Francisco-based company then took note and said it still “intends” to complete the deal.
Negotiations are faltering
But the negotiations for concluding a new agreement seem to be slipping, particularly on the topic of debt financing. After all, after months of public attacks and the head of the bluebird group, Tesla’s boss. “careful”Adam Badawi, a UC Berkeley business law professor, said Tuesday. Twitter will ask “This time a protected contract. (…) They’re going to want Musk to advance a good chunk of the total“Before signing, he predicted.
The judge responsible for the dispute between Twitter and Elon Musk on Thursday postponed the trial and gave both sides until October 28 for the Tesla boss to buy the social network, failing which a trial scheduled for ten days will take place in November.
Source: Le Figaro
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.