Elon Musk accuses Twitter of failing to accept his restored offer to purchase the social media platform at the original price of $54.20 per share.
Susan Walsh/AP, FILEThe billionaire entrepreneur also asked the Delaware Chancery Court to halt a trial that's scheduled to begin later this month. Musk and Twitter have been embroiled in a legal battle since he made an offer to buy the platform and then decided to back out after the company allegedly did not provide him with the information he requested about bot accounts.
"Twitter will not take yes for an answer. Astonishingly, they have insisted on proceeding with this litigation, recklessly putting the deal at risk and gambling with their stockholders' interests," Musk's attorneys said in a new court filing. SpaceX owner and Tesla CEO Elon Musk smiles at the E3 gaming convention in Los Angeles, June 13, 2019."Twitter offered Mr. Musk billions off the transaction price. Mr. Musk refused because Twitter attempted to put certain self-serving conditions on the deal. Any statement to the contrary is a lie," Musk's attorney, Alex Spiro of Quinn Emanuel, said in a statement.
The trial, which was initially scheduled to start on Oct. 17, has now been pushed to Oct. 28, according to the source -- the same date by which Musk said he expects the deal with Twitter to close. "As a result, there is no need for an expedited trial to order Defendants to do what they are already doing and this action is now moot," Musk said in the filing."We look forward to closing the transaction at $54.20 by Oct. 28," the company said.
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