Judge pauses case between Twitter and Musk to complete takeover

The lawsuit between Twitter and Elon Musk is temporarily suspended. This is to give the two parties time to execute their agreement to sell the social medium to the Tesla CEO. The postponement comes just before Musk should have testified himself.

Actually, the Tesla CEO would make statements in the case himself on October 17. Musk announced on October 4 that he still wants to buy Twitter for a total amount of 44 billion dollars. He made an offer to Twitter, which was accepted, but then accused Twitter of withholding information about how many bots are active on the platform. The lawsuit is there to fight that out.

Twitter is ambivalent about the circumstances, so writes Reuters. On the one hand, the company says it is “looking forward to signing an agreement for $54.20″ [per aandeel] before October 28,” but Twitter was still against Musk’s postponement proposal in court. At the time, it said the proposal would bring “more rowdiness and delay” from Musk.

Elon Musk made an offer to take over Twitter in April of this year. He already had a 9.2 percent stake in Twitter, but stated: “However, since I invested, I realize that the company in its current form will neither thrive nor serve this social need. Twitter must be transformed into a private enterprise”. A few months later, he came back from his idea, because, according to Musk, Twitter had understated the number of spambots on the platform. Since then, a lawsuit has been fought between the two parties.