Frankly, this story never ends. In the hot dossier of Twitter’s takeover by Elon Musk, we had another big twist on Tuesday, October 4, 2022. As you know, Tesla’s boss has finally decided to honor the takeover offer made to the social network. $44 billion or $54.20 per share.
And as our colleagues on the site pointed out Boundary, Elon Musk’s reversal, far from it, is not trivial. Indeed, the billionaire was scheduled to audition this Thursday morning as part of his case against the social network. He was to testify in Austin, Texas (the state where Tesla is headquartered) before the start of the trial, scheduled for October 17.
But more importantly, we just learned this. SpaceX’s boss negotiated a condition To continue the takeover is simple with Twitter: He said the social network dropped the charges against him. That’s why the billionaire’s statement was finally canceled on Thursday, October 6th. If the transaction is confirmed, The legal confrontation scheduled for October 17 would also be forgotten.
Is Elon Musk’s main goal to avoid being judged?
“It was the signal that Musk felt was very unlikely to win a trial victory. Having to close the deal after a long and difficult legal battle was not a scenario. ideal”, He reassures Dan Ives, a renowned analyst at Wedbush Securities.
For many experts, avoiding this lawsuit allows Elon Musk to put an end to a potentially embarrassing trench in his private life, the judges said. Payment of various documents such as SMS Billionaire published before the trial. We also know that Musk’s legal team has expressed concerns about the case. their cause was not strong enough to hope for a victory.
But be careful Talks between Twitter and Elon Musk are still ongoing. As long as that is the case, the hearing will still be held on October 17. “The parties did not set a condition for the stay of this case, and neither party requested that the case be stopped.” said Kathleen McCormick, the federal judge in charge of the case. As a reminder, Elon Musk announced that he plans to launch his own social network called X.
