On again, off again, on again…off again? Tesla Inc TSLA chairman Elon Musk has said Twitter Inc TWTR I’m just not going to take yes for an answer.
What happened: Just days after Musk indicated that he was willing to proceed with the original Twitter acquisition deal at $54.20 per sharethe Tesla boss has asked Twitter to end all litigation before the deal is finalized, Per CNBC.
In a filing Thursday with the Delaware Court of Chancery, Musk’s team reportedly said that Twitter should delay the court date scheduled for mid-October so it can assemble the necessary funding to close the deal by Oct. 28.
“Twitter will not take yes for an answer. Amazingly, they have insisted on pursuing this litigation, recklessly risking the deal and gambling with the interests of their shareholders,” the filing reads.
Musk’s team said the upcoming trial would prevent the deal from moving forward as the parties will be “distracted by completing the discovery and an unnecessary trial” rather than allowing the two sides to “refocus their focus on securing debt financing.” direct, which is necessary for the completion of the transaction. “
Musk and Twitter initially agreed on the $44 billion takeover deal in April, but the deal stalled shortly thereafter Musk said The number of bots or spam accounts on Twitter was much higher than the company stated.
Twitter sued Musk in July, and Tesla’s CEO seemed poised for a lawsuit, but earlier this week Musk made a proposal to buy Twitter at the original offer price of $54.20 per share.
Twitter confirmed receiving the letter and said it intended to close the transaction at $54.20but nothing was said about dropping the litigation.
It seems that Twitter doesn’t want to drop its lawsuit until a deal is in place, and Musk has questioned that.
TWTR Price Action: Twitter has a 52-week high of $54.57 and a 52-week high of…
