The Tesla tycoon said he would go ahead and buy Twitter on Tuesday on condition that the legal action brought by Twitter against Musk ends and he gets the money for the takeover in time. Elon Musk is set to proceed to buy the social media behemoth for US$44 billion at US$54.20 a share by October 28th, the judge ruled.
Musk has been trying to evade the acquisition he announced earlier this year citing a lack of transparency by Twitter Inc., especially regarding its user totals. Musk and Twitter were scheduled to go to trial on October 17 after the social network sued the world’s richest man to force him to stick to his promise to take control of the company and take it private.
According to reports, Musk and Twitter agreed to hold off on the deposition to finalize the details of the purchase. However, the judge in the Twitter case has ruled Musk must complete his takeover by October 28, or the trial will continue
In September the judge handling the case turned down Elon Musk’s request to delay his trial with Twitter, a request which he justified will give him time to figure out debt financing for the purchase.
