Twitter says it intends to close the deal at the agreed-upon price, but the two sides are still booked for an Oct. 17 trial in Delaware over Musk’s earlier attempts to terminate the deal.
No, he doesn’t own Twitter and it’s still not clear if or when he would take it over. What happened this week is that his lawyer sent a letter to Twitter saying Musk will complete the deal as long as he lines up the promised debt financing and provided that the Delaware Chancery Court drops Twitter’s lawsuit against him. But Twitter is unlikely to give up on its legal proceedings unless it confirms that the deal is for real this time and not a tactical gambit.
Twitter’s deposition of Musk — set to begin Thursday — and even the Oct. 17 trial itself could still go forward if Twitter isn’t assured that the deal is closing, said Ann Lipton, an associate law professor at Tulane University.
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