Twitter’s bid to get Elon Musk to follow through with his multibillion-dollar bid to buy the social network will officially go to trial on October 17, a Delaware judge has confirmed.
(BLOOMBERG).- As Bloomberg reported earlier today, the ongoing feud between Twitter and the world’s wealthiest man will come to a head in the Delaware Court of Chancery from October 17-20.
The ongoing saga has taken many twists and turns since Elon Musk’s $44 billion offer was accepted by Twitter back in April. The Tesla and SpaceX CEO decided he didn’t want to buy Twitter any more, citing a lack of clarity on Twitter’s bot data, but Twitter has been pushing to force the deal through legal action.
While Musk initially wanted to delay a trial until next February, a judge last week ruled that Twitter could accelerate proceedings to October this year — though we didn’t know a specific date until today. Musk can perhaps claim a minor victory, though, given that he had more recently sought a start date of October 17 vs. Twitter’s request of October 10.
At its Q2 earnings report last week, Twitter revealed that it had spent $33 million during the previous quarter on the pending acquisition, a figure that can only escalate in the months leading to the trial.
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