New Delhi: In the US Delaware court, the ongoing case between Tesla owner Elon Musk and Twitter regarding the deal dispute has been stopped for the time being. The judge hearing the case has halted Twitter Inc’s case against Elon Musk and given the businessman time to complete the deal. According to media reports, Elon Musk can complete this deal by 28 October 2022.
Delaware Chancery Court Judge Kathleen St. Jude McCormick gave Musk time in her order, saying that if Musk does not complete the deal on October 28, then a trial will be started against him in November. Earlier, lawyers fighting Musk’s case had pleaded in court on Thursday that the court case is put on hold during the completion of the Twitter deal so that finance and other paperwork can be completed to complete the acquisition.
$44 billion deal
In the midst of the court trial, Musk has expressed his intention to complete the deal by sending a letter to Twitter on Monday. In this regard, he has also informed the American stock market. The deal has already got the approval of the shareholders. Musk has offered to acquire this Twitter at a price of $ 54.20 per share. Accordingly, this whole deal can be worth 44 billion dollars. At the same time, Musk has also talked about ending the legal battle over the Twitter purchase.
Twitter shares rose
Musk, the CEO of electric car maker Tesla, was asked by the court to appear for questioning on October 17, but the case was adjourned amicably after his statement on Thursday. Meanwhile, Twitter shares fell 3.7% on the day, but by the end of the day, the shares closed at $49.39 after gaining 1%. Musk said this week that he would buy Twitter for the 54.20 per share he agreed in April.
Twitter plans to add more
Earlier, Elon Musk had talked about making Twitter more useful. According to media reports, Musk wants to add many new things to this social media app like WeChat or Tik-Talk. WeChat is a messaging service and is very popular in China. Tik-Tok, a Chinese-owned video-sharing service, has now been shut down in India and the US.
