Elon Musk's legal team is accusing Twitter of refusing to accept the Tesla CEO's renewed $44 billion bid and is asking a judge to halt an upcoming trial
Prosper Trading Academy CEO Scott Bauer and Seaport Securities founder Teddy Weisberg discuss if Musk will reach a deal with Twitter and what more Fed rate hikes mean for the market on 'The Claman Countdown.'wants Twitter to stop its upcoming trial over his attempt to walk away from his $44 billion acquisition deal so that the original terms can proceed as planned.
FILE: Tesla CEO Elon Musk and Armin Laschet, CDU Federal Chairman and Prime Minister of North Rhine-Westphalia, talk during a tour of the plant of the future foundry of the Tesla Gigafactory on August 13, 2021, in Grünheide near Berlin, Germany.A sign is pictured outside the Twitter headquarters in San Francisco, Monday, April 25, 2022.
Musk's lawyer, Alex Spiro, told FOX Business in a statement that Twitter "offered Mr. Musk billions off the transaction price." Musk sent a letter to Twitter on Tuesday stating that he intends to proceed with his original $54.20 per share offer agreed to by the parties in April. The letter noted that the move depends on receipt of the deal's debt financing and provided the Delaware Court of Chancery stays Twitter's lawsuit against him and adjourns the upcoming legal trial.Twitter said earlier this week that it intends to close the deal at the agreed-upon price, but the two sides are still booked for an Oct.
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