Delaware Chancellor Kathaleen McCormick has given give Tesla founder and CEO Elon Musk until Oct. 28 to complete the $44 billion buyout of Twitter or face a trial in the First State.
Chancery Daily reported that Twitter opposed a motion by Musk’s lawyers for a delay on the grounds that there is no assurance that the deal will be completed.
See the Tweet below from Chancery Daily, which has followed and commented on the case via Twitter.
ok, case stayed, but I actually think this is brilliant (you’re not going to be surprised by that reaction but let me game it out for you) pic.twitter.com/5PH0giXLXd
— The Chancery Daily (@chancery_daily) October 6, 2022
Musk earlier walked away from his $44 billion offer for the company, with Twitter quickly filing suit in Delaware in an effort to force the world’s richest man to live up to the agreement.
Lawyers for both Twitter and Musk filed a flurry of motions, with Musk claiming, among other things, that Twitter had not fully revealed the extent of “bots” that automatically generate Twitter posts.
