Elon Musk's lawyers said Thursday that Twitter is refusing the Tesla billionaire's renewed $44 billion bid for the social media company.
PUBLISHED 4:00 PM ET Oct. 06, 2022A judge has delayed a looming trial between Twitter and Elon Musk, giving Musk more time to close his $44 billion deal to buy the company after months spent fighting to get out of it.
Musk attorneys argue that Twitter is disagreeing with the trial delay “based on the theoretical possibility” of Musk not coming up with the financing, which they call “baseless speculation” Twitter attorneys sent a letter Thursday to the Delaware Chancery Court’s head judge, not long after Musk’s legal team asked her to call off the trial while he works on a renewed bid to buy the company.
“But they aren’t. Instead they refuse to commit to any closing date,” said the letter from Twitter lawyer Kevin Shannon. “They ask for an open-ended out, at the expense of Twitter’s stockholders , all the while remaining free to change their minds again or to invent new grounds to avoid the contract.”
“Twitter will not take yes for an answer,” said the court filing signed by Musk attorney Edward Micheletti. “Astonishingly, they have insisted on proceeding with this litigation, recklessly putting the deal at risk and gambling with their stockholders’ interests.”