Thursday, August 18, 2022

Twitter claims Musk is 'slow-walking' trial over $44 bln deal

Twitter claims Musk is 'slow-walking' trial over $44 bln deal

CALIFORNIA (Reuters) - Twitter Inc accused Elon Musk of trying to "slow walk" the company's lawsuit to hold him to his $44 billion takeover and urged a September trial to ensure deal financing remains in place, according to a court filing.

Twitter has sued Musk and asked a Delaware judge to order him to complete the merger at the agreed price of $54.20 per share.

The company said if Musk is ordered to close the deal it could still take months of additional litigation to close the debt financing, which expires in April. For that reason, Twitter asked the judge to reject Musk's proposal to hold the trial in February.