- Tram Ho
The ruling comes as Musk’s intentions are unclear a few days ago and means the billionaire will not have to testify this week over claims that Twitter cheated on the number of fake accounts and spam messages on this platform.
According to the ruling, Ms. McCormick stated that if Mr. Musk, the world’s richest man, does not complete the deal by October 28 at a buyback price of $54.2 per share, the trial will take place in November.
Twitter said it wants to complete the transaction at the above price before October 28.
Mr. Musk, CEO of electric vehicle maker Tesla Inc, was scheduled to attend the trial on October 17, and the testimony on October 6 has been adjourned according to an agreement between the two parties. beside.
Twitter’s share price, after closing down 3.7% to $49.39, rose 1% a few hours after investors dismissed concerns.
This week, billionaire Musk unexpectedly offered to complete the acquisition of Twitter social network at the initial agreed price, with the condition that the deal would be financed by loans and the court must stop the lawsuit. .
The offer comes as a surprise after months of a “long battle” when Musk announced the termination of the agreement, accusing Twitter of cheating on the real number of users’ accounts, among other allegations.
Source : Genk