Judge delays Twitter trial, gives Elon Musk time to seal buyout

A judge has delayed a trial between Twitter INC and Elon Musk, giving the Tesla CEO more time to close his $44 billion deal to buy the social media giant after months spent fighting to get out of the deal.

The world’s richest person had asked to halt the upcoming Delaware court trial, where Musk could be forced to complete his April merger agreement. Musk reportedly said he needed more time to get the financing in order.

Chancellor Kathaleen St. Jude McCormick, head of the Delaware Chancery Court, said that Musk and Twitter now have until October 28 to close the $44 billion deal. She also said that a trial set for October 17 will happen in November if they don’t complete the deal.

Twitter reportedly described Musk’s move to delay the trial as “an invitation to further mischief and delay.” Twitter said in a statement, “We look forward to closing the transaction at $54.20 by October 28th.” Musk agreed to take over Twitter INC for a $44 billion deal, which means Musk agreed to acquire the social media giant for $54.20 a share.

Musk’s legal team argued that Twitter was disagreeing with the trial delay “based on the theoretical possibility” of Musk not coming up with the financing order. Recently, Twitter disputed Musk’s claim that the company was refusing to accept his renewed bid.

The Tesla CEO told Twitter earlier this week that he’s ready to buy the social media company once again after trying to back out of the deal, accusing it of giving false information about “spam bot” accounts on the micro-blogging site.

Earlier, Musk's attorneys told the Delaware Chancery Court that Musk wanted correct details about fake accounts on Twitter. However, the social media giant said that Musk’s scepticism over Twitter's spam accounts tally was baseless.

over Twitter's spam accounts tally was baseless.

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