Elon Musk must complete acquisition By this Friday at the latest, Twitter if you want to avoid being judged against the social network where you are the loser.
The most notorious business debate of the year may finally come to an end this week, or alternatively, it may enter a new phase, this time with the two sides facing each other. Special court of the state of Delaware.
Musk agreed to approximately take over Twitter last April. $44 billionbut later backed out, which resulted in the company suing him for forcing him to comply with the agreement.
In preparation for the trial Tesla’s president tried to negotiate a cut in the price of the operation, but Twitter did not agree andFinally, with the due process imminent, Musk gave up and announced that he had agreed to close the operation under the original terms.
This happened at the beginning of October and since then, The two sides are trying to agree on all the details, but for now, the acquisition has not taken place as the important date of October 28 approaches.
That day, at 17:00 US East Coast time (19:00 GMT), the deadline given to Musk by the judge in charge of the case. If you don’t want to continue experimenting, which most experts believe the social network will prevail, turn off the purchase.
Twitter, at Musk’s insistence and to protect their backs against possible new surprisesHe chose not to withdraw the case until the acquisition takes effect, and if that doesn’t happen he will ask the court to force the billionaire to comply with the deal.
Discussion
In the last weeks, always loud Musk remained cautiously quiet on Twitter, After a summer where she didn’t stop to comment on the social network and its alleged problems while trying to stop her buying.
Now, the few references he has made to Twitter are quite positive, Like last week, he highlighted the “incredible potential” of the platform during the presentation of Tesla’s quarterly results.
Not much has come out of the negotiations at the moment, but according to the information provided by anonymous sources to the economy media, The two sides continue to work to close the operation before it ends on Friday.
This Tuesday It was learned that some investors in the operation received documents to prepare the purchase, It’s another sign that the discussions are on the right track.
Possible obstacles
One time Earlier this month, Musk finally announced that he will continue to buy. The financing of the operation began to be seen as the main obstacle.
The world’s richest man had initially negotiated with several banks to help him pay for the purchase with several billion dollars in loans, but the months-long struggle for the operation has damaged Twitter’s image and value, which, combined with a more complex economic situation, damaged its image and value. situation, many analysts, organizations necessary money.
The other, more unexpected potential challenge may lie with the US government, as Bloomberg reported last week. The Joe Biden Administration would examine the possibility of submitting the operation to a national security review.
This information came to light after Musk did it. a few comments about war in ukraine much criticizedto defend pro-Russian theses, by the Kyiv Government, among others.