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Another twist in the Musk and Twitter deal

Published

2 years ago

October 6, 2022

The trial between Twitter and Elon Musk is still set to go ahead

The trial between Twitter and Elon Musk is set to go ahead, in a strange series of events. This comes despite Musk’s recent change of heart over the deal to buy the social media platform

Delaware Court judge Kathaleen McCormick says neither party has applied for a “stay” in the action. Now, proceedings are still due to begin on October 17.

This comes a day Musk performed a U-turn, deciding to go ahead with the multi-billion dollar deal to buy the social media giant.

Musk’s lawyer says his client has “reconsidered his position” and is now “committed to completing the transaction.”

The transaction values Twitter at $54.20 per share, bringing the total sale price to around 44 billion.

The trial was scheduled to run over five days with Twitter arguing the Tesla CEO should be required to complete the transaction.

Musk launched a counterclaim, alleging the company suffered a substantial reduction in its value, rendering the deal invalid.

Related Topics:Elon Musk Featured musk Twitter

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William Howard

William is an Executive News Producer at TICKER NEWS, responsible for the production and direction of news bulletins. William is also the presenter of the hourly Weather + Climate segment. With qualifications in Journalism and Law (LLB), William previously worked at the Australian Broadcasting Corporation (ABC) before moving to TICKER NEWS. He was also an intern at the Seven Network's 'Sunrise'. A creative-minded individual, William has a passion for broadcast journalism and reporting on global politics and international affairs.

Money

Why the meme-stock frenzy is unlikely to repeat

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5 days ago

May 14, 2024

Nathan Langridge

GME shares surge 74%, but experts stress a meme-stock frenzy resurgence is unlikely due to fundamental differences in the company’s financial situation.

Australia’s budget unveils a second consecutive surplus of A$9.3 billion, prioritising the critical minerals industry and green energy initiatives to reduce reliance on Chinese supply.

Also, GameStop shares have surged 74%, but experts caution against expecting a repeat of the 2021 meme-stock frenzy. #featured #trending

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Why are airlines after the Biden Administration?

Published

5 days ago

May 14, 2024

Nathan Langridge

Major airlines are taking legal action against the Biden administration over a newly implemented rule requiring them to disclose fees upfront.

On this episode of Hot Shots – Major airlines are suing the Biden Administration, AI-piloted fighter jets, SpaceX faces funding challenges, and Apple receives crushing feedback.

Ticker’s Ahron Young & Veronica Dudo discuss. #featured #trending

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The mounting pressure on Government spends

Published

6 days ago

May 13, 2024

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Questions abound regarding the factors fueling this inflation surge in Australia and whether it correlates with the escalating government expenditures.

Concerns extend to how Chalmers navigates the mounting pressure amid discrepancies in spending allocations.

Moreover, as Australians grapple with the reality of rising living costs, the feasibility of cutting spending becomes a pressing issue. Additionally, amidst economic uncertainties, individuals seek guidance on managing stock market risks effectively. #Featured #Trending