Last chance for a Musk – Twitter deal? The trial is postponed to “find them”

Last chance to reach an agreement between Elon Musk and Twitter?

A US judge on Thursday decided to delay the high-profile lawsuit between Twitter and Tesla’s chief executive, giving the billionaire and the social media platform more time to seal their $44 billion settlement.

“If the transaction is not closed by 5 p.m. on October 28, 2022, the parties are directed to contact me by email on the afternoon of that date to obtain the November 2022 trial dates,” Delaware District Court Judge Kathleen McCormick said in the order.

The original trial date was set in just one week, for October 17.

The announcement comes after Musk sent a letter on Twitter notifying the social media platform’s chiefs that he intends to complete the acquisition on the terms he agreed to in April, according to a filing with the US Securities and Exchange Commission dated Monday, Oct. 3.

Earlier Thursday, Twitter lawyers opposed Musk’s request, asking McCormick to proceed with the lawsuit.

It is recalled that Musk had agreed in April to buy Twitter for $44 billion, but a few weeks later he claimed that the number of (fake) bot accounts was much higher than Twitter’s estimate of less from 5% of users, something that slowed down the process.

Spam bots weren’t the only reason Musk backed out of the takeover proposal, however. It also played a role in Twitter’s share price, which has fallen dramatically since its initial takeover bid in April, giving the impression that it is overpaying.

However, the terms of the deal were such as to make it extremely difficult for Musk to walk away.

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