The Twitter and Musk deal has taken another turn as a judge postpones the trial
The Twitter and Musk deal has changed direction, once again.
A Delaware judge has postponed the Twitter v Elon Musk trial. The moves is to give the Tesla chief executive time to complete his proposed $44bn takeover.
The litigation was halted until October 28 to allow both parties to close the transaction, after Musk said he needed time to put together the funds for the deal.
Judge Kathaleen McCormick said if the deal did not close by her deadline the parties will need to contact her to schedule a November trial.
But Twitter argued the court should reject the proposal, saying Musk’s financing plan is “an invitation to further mischief and delay.”
Twitter and Musk were originally due to face off after announced his decision to walk away from the deal.
Musk has so-far raised $15.4 billion for the takeover by selling Tesla shares and is also leaning on large investors for another chunk of the financing.
There is speculation over whether he may need to sell more Tesla stock to fund the deal.
