Twitter vs. Musk: Negotiation suspended, but dispute continues
Tesla boss first announced the purchase, then backed down and now there’s backing down from backing down. This also has various consequences. Elon Musk now wants to buy Twitter after all, at the originally agreed purchase price. This is the summary of the events of the past few days.
Why did the 51-year-old change his mind? There are various assumptions about this. The most likely thing, however, is that Musk and his attorneys have realized they are losing the case in court and are likely to lose the October hearing. Many observers said that Musk also got cold feet because details about him and his business that could become uncomfortable for him became known during the course of the hearing.
The hearing was originally scheduled to begin on October 17, but Judge Kathaleen McCormick has now suspended it. However, Twitter representatives did not trust Musk’s new peace, because the social network’s lawyers have protested the suspension (via The Verge). Basically what they mean is that Musk can’t be trusted.
Dispute continues
In a letter to the court, Twitter attorney Kevin Shannon wrote: “Now, on the eve of the trial, the defendants say they want to close it after all. ‘Trust us,’ they say, ‘we mean business this time,’ and petition, therefore, to be cleared of a settlement in the matter.
Musk’s lawyers, however, argue that the problem is on Twitter’s side: “Twitter does not take a yes. Amazingly, the company has insisted on pursuing the lawsuit, ruthlessly jeopardizing the business and jeopardizing the interests of its shareholders.” Judge McCormick only postponed the hearing for a limited time, until October 28, 2022.
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