A court document revealed that a judge in Delaware, USA, ordered a pause in Twitter's lawsuit against billionaire and Tesla founder Elon Musk until 5 PM local time on October 28, allowing him to finalize the acquisition of Twitter. This decision came after Musk changed course and expressed readiness to proceed with purchasing the social media platform.
Documents showed that Musk proposed to move forward with his original plan to acquire Twitter for $44 billion, calling for an end to the lawsuit filed by Twitter, which could potentially force him to pay regardless of his intentions. This agreement would place the world's richest person at the helm of one of the most influential media platforms, concluding a legal battle that has lasted for months, harming Twitter's brand and fueling Musk's reputation for unpredictable behaviors and decisions.
Musk, the CEO of Tesla, is set to take control of the company he initially committed to purchase in April but soon reneged on. However, he tweeted late Tuesday stating that buying Twitter would accelerate his ambition to create an "everything app" called "X." The new offer comes ahead of a highly anticipated face-off between Musk and Twitter in court in Delaware on October 17, where the social media company seeks a court order compelling Musk to complete the deal for $44 billion.
Musk sent a message on Twitter last Monday indicating his intention to move forward with the deal under the original terms if the Delaware judge halted the proceedings. A source familiar with Twitter's team told Reuters that during a court session on Tuesday morning, the judge requested a report from both sides by the evening.
