Elon Musk has asked a U.S. judge to suspend Twitter’s lawsuit over troubled acquisition talks after the social media company’s struggles with the Tesla chief’s claim to suspend litigation.
Musk’s request comes two days after the unpredictable billionaire revives his acquisition plans. following a withdrawal from a previous $44 billion transaction.(Musk said Twitter declined to hold) That prompted Twitter to file a lawsuit in Delaware court. The trial is scheduled to begin on Oct. 17.
The report said on Tuesday that Elon Musk offered to push him. Twitter Acquisition at the original agreed price Just weeks before the bitter opening of the court case over an attempt to withdraw from the deal.
U.S. media said the richest man in the world sent a letter to Twitter pledging a purchase price of $54.20 per share. As a result, the share value of the social network skyrocketed, causing trading to stall.
The latest reversal in the long-term buyout saga comes less than two weeks before the start of a high-stakes trial caused by Twitter in an effort to hold the Tesla chief in a $44 billion deal that He signed in April.
Musk is set to be fired by Twitter lawyers later this week in preparation for a sentencing hearing. Musk said Twitter declined to hold.
An Entrepreneur Who Wealth From His Success With Tesla’s Electric Cars Musk began backing out of the Twitter deal shortly after it was agreed.
He said in a letter in July that he canceled the purchase because he was misled by Twitter over the number of fake “bots” accounts, allegations the company denies.
Meanwhile, Twitter has searched for information or testimony to prove Musk is trying to find an excuse to walk away because he changed his mind.
In July, a Delaware judge agreed to a swift follow-up hearing on Twitter’s allegations, which the company argued hampered its financial performance.