A Delaware Chancery Court judge has imposed an October 28 deadline on Elon Musk to close his deal with Twitter if he wants to avoid a trial, following the former’s offer to close the deal at the original price of $54.20 per share. According to Twitter, Musk “should be arranging to close on Monday, October 10,” but is instead refusing to “commit to any closing date.”
Musk previously backed out of the deal, citing concerns over the stated number of bots on the platform, causing Twitter to sue Musk to go through with the acquisition.
The trial had been set to begin on Oct. 17 — but the new ruling gives Musk some extra time to work things out with Twitter.
In a filing with the court, Twitter accused Musk of delaying tactics.
According to Twitter, Musk “should be arranging to close on Monday, October 10,” but is instead refusing to “commit to any closing date.”
“They ask for an open-ended out, at the expense of Twitter’s stockholders (who are owed $44 billion plus interest), all the while remaining free to change their minds again or to invent new grounds to avoid the contract ‘[w]ithout any admission of liability and without waiver of or prejudice to [their] claims and defenses,’” said Twitter’s lawyers.
While Twitter is intent on closing the deal in order to secure a major payout for its shareholders, the political left is alarmed at the prospect of Musk, a self-proclaimed free speech absolutist, taking over one of the web’s largest social media platforms.
As Breitbart News reported in May of this year, a coalition of shadowy globalist nonprofits backed by leftist dark money, including from frequent Musk opponent Bill Gates, teamed up to oppose the SpaceX CEO’s purchase of Twitter.
A letter signed by the globalist-leftist coalition called on shareholders to “Stop the Deal,” warning that the restoration of free speech on Twitter would “provide a megaphone to extremists who traffic in disinformation, hate, and harassment.”
Allum Bokhari is the senior technology correspondent at Breitbart News. He is the author of #DELETED: Big Tech’s Battle to Erase the Trump Movement and Steal The Election.