Elon Musk must complete a file Twitter Acquisition At the latest this Friday if you want to avoid going to trial against the social network in which you are, a priori, the loser.
The most famous business debate of the year may finally come to an end this week or, alternatively, usher in a new phase, this time with the two sides going head to head in Specialized Court of the State of Delaware.
Last April, Musk agreed to take over Twitter 44 billion dollarsbut then backed down, prompting the company to sue him to force him to comply with the agreement.
While the trial was in progress Tesla chief tried to negotiate a price cut for the operation, but Twitter wouldn’t accept andFinally, with court proceedings imminent, Musk capitulated and announced that he had agreed to close the operation on the original terms.
It happened at the beginning of October, and since then, The two sides have been trying to agree on all the details, but for now, the purchase remains unfulfilled as the key date of October 28 approaches.
On that day, 5:00 p.m. EST (7:00 p.m. GMT), the deadline given to Musk by the judge in charge of the case to Close the acquisition if you do not want to continue the experiment, as most specialists believe that the social network will prevail.
Twitter despite the insistence of Musk and To protect their backs from potential new surpriseshe chose not to withdraw the lawsuit until the purchase became effective, and if it does not, he will go to court to force the billionaire to comply with the agreement.
In recent weeks it’s always been loud Musk was cautiously silent on Twitter, After a summer in which he did not stop commenting on social media and his alleged problems while trying to stop his purchase.
Now, the few mentions he’s referring to on Twitter are rather positive, As happened last week when he highlighted the “amazing potential” of the platform while presenting Tesla’s quarterly results.
At the moment, not a lot of negotiations have taken place, but according to anonymous sources who told the economic media, Both sides are continuing to work with a view to closing the operation before the Friday deadline.
this tuesday, It became known that some investors in the process had received documents to prepare for the purchase, In another sign that discussions are on the right track.
Once Musk announced earlier this month that he would finally begin the acquisition process, Funding the operation has become the main obstacle.
The world’s richest man had originally negotiated with several banks to help him pay for the purchase with multi-billion dollar loans, but months of fighting over the process damaged the image and value of Twitter, which has come close with a more complex economy. The situation, prompted many analysts to consider that entities may be reluctant to put money needed.
Another potential difficulty, however unexpected, could be with the US government, as Bloomberg reported last week The Joe Biden administration will consider the possibility of submitting the process to a National Security Review.
This information appeared after he made a mask Many highly criticized comments about the war in Ukraineamong other things by the Kyiv government, to defend the pro-Russian theses.