Elon musk has told the Delaware court that the trial should be put on hold to enable a smooth financial transaction of his deal to buy Twitter, but Twitter’s board and officials are not having it as they want to proceed with the trial.
No one can blame them if they take their stance towards the proceedings because with Elon nothing is fully certain.
Elon who has seen that going through with the trial would not make him look good to the eye of the public and Tesla investors would not want to further risk the shares of his company Tesla from going down in stock value.
He would have to make the deal before October 28 or would be forced to indefinitely proceed with the trial, this is just 22 days from now and if Musk creates another delay. The judge would just have to take the trial to November where they would force Musk to indefinitely close the deal or face the penalty.
There were chats revealed between Musk and Twitter CEO Parag Agrawal which didn’t make Musk look good in court and that was just day one, so one could only imagine what the court might demand next. There would be private messages that Musk would not like to see out in the open but would be forced to if the court wants it.
If Musk is serious about closing this deal then He should be able to be the new owner of Twitter in less than 2 weeks, there are also speculations that Musk might just be stalling to see how the stock will perform before the 28th or might just want to make sure his lawyers can come up with something that can make him buy Twitter for a lesser price because truth be told, $44 billion is certainly overpriced to Twitter’s current value.