Elon Musk’s monthslong tussle with Twitter has taken a sharp turn 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.
But it's not over yet. Twitter says it intends to close the deal at the agreed-upon price, but the two sides are still booked for an Oct. 17 trial in Delaware over Musk's earlier attempts to terminate the deal.No, he doesn't own Twitter and it's still not clear if or when he would take it over.
. 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.The judge presiding over the Delaware case hasn't yet publicly weighed in on Musk's new proposal, but what she says could determine the next steps. Twitter's deposition of Musk — set to begin Thursday — and even the Oct. 17 trial itself could still go forward if Twitter isn’t assured that the deal is closing, said Ann Lipton, an associate law professor at Tulane University.But if the deal does go through, Lipton said Musk could be in charge of Twitter in a matter of days — however long it takes him and his co-investors to line up the cash.
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