According to reliable sources, Twitter’s management and American billionaire Elon Musk have reached an agreement to put off the billionaire’s long-awaited court appearance. The court is currently considering the company’s lawsuit, which seeks to compel Musk to complete the $44 billion purchase agreement after he announced his withdrawal in July.
Musk declared his readiness to buy Twitter at the previously agreed upon price, which is 54, the day before yesterday.
Despite the recent steep decrease in share price, the price per share remains at $20.
Additionally, according to the Bloomberg News Agency, the October 17 hearing for the Twitter case brought against Elon Musk may be postponed.
The sources claim that Musk’s scheduled court appearance for this morning has been postponed while the lawyers for the two parties work to complete the necessary steps to have the case dismissed.
The market, on the other hand, does not yet completely think that the acquisition can be completed, as evidenced by Twitter’s stock falling 1.4% this morning to $50.
According to court documents released yesterday, Musk, the founder of the company, asked to postpone a meeting that was supposed to take place on September 28 to answer questions about his decision to back out of the $ 44 billion purchase of Twitter because of worries that a Twitter lawyer may have been infected with Covid-19.
Musk “seeks to escape” inquiry, according to a Delaware court lawsuit made by Twitter.
According to their Sept. 27 answer, Musk’s attorneys responded the same day that the claim that he avoided questioning was “unwarranted” and that he had made a “reasonable request — consistent with CDC rules” not to personally attend the interrogation. based on information from Bloomberg News.
The trial that was set to begin on October 17 would come to an end if Musk’s offer to purchase Twitter for $44 billion, on its basic conditions, was maintained, as he announced last Tuesday. And in that case, the questioning session for terminating the agreement will of course be postponed.
Elon Musk and Twitter agree to delay his appearance in the court hearing whether to compel him to acquire the business.
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