https://sputnikglobe.com/20221006/elon-musk-and-twitter-approaching-agreement-buyout-may-follow-soon-reports-claim-1101561819.html
Elon Musk and Twitter Approaching Agreement, Buyout May Follow Soon, Reports Claim
Elon Musk and Twitter Approaching Agreement, Buyout May Follow Soon, Reports Claim
Sputnik International
Previously, the social media platform said that Musk announced his intention to close the transaction at $54.20 per share ($44 billion total). 06.10.2022, Sputnik International
2022-10-06T08:57+0000
2022-10-06T08:57+0000
2023-04-14T12:57+0000
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The dramatic story of Twitter's purchase by Elon Musk may soon be resolved, as the billionaire and the tech giant are on their way to reaching an agreement, so they may end their court battle in the coming days, Reuters reported on Wednesday night, citing a source close to the matter.In a bid to cease the litigation, both sides agreed to postpone the billionaire's deposition in court scheduled for Thursday, the agency added - however, according to judge Kathaleen McCormick, Musk and Twitter are yet to file an official stipulation and reach the accord.Musk announced his intention to buy Twitter earlier this year - however, in July, his legal team filed a notice to terminate the deal, citing a violation of contractual obligations by the tech company. According to the billionaire, Twitter failed to account for the true number of spam accounts on the platform.Twitter sued Musk to make him proceed with the deal, while the businessman countersued, with another note following in august, citing serious security flaws of the platform as an additional argument.
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Evgeny Mikhaylov
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elon musk, x (formerly twitter)
elon musk, x (formerly twitter)
Elon Musk and Twitter Approaching Agreement, Buyout May Follow Soon, Reports Claim
08:57 GMT 06.10.2022 (Updated: 12:57 GMT 14.04.2023) Previously, the social media platform said that Musk announced his intention to close the transaction at $54.20 per share ($44 billion total).
The
dramatic story of Twitter's purchase by Elon Musk may soon be resolved, as the billionaire and the tech giant are on their way to reaching an agreement, so they may end their court battle in the coming days, Reuters reported on Wednesday night, citing a source close to the matter.
In a bid to cease the litigation, both sides agreed to postpone the billionaire's deposition in court scheduled for Thursday, the agency added - however, according to judge Kathaleen McCormick, Musk and Twitter are yet to file an official stipulation and reach the accord.
Musk announced his intention to buy Twitter earlier this year - however, in July, his legal team filed a notice to
terminate the deal, citing a violation of contractual obligations by the tech company. According to the billionaire, Twitter failed to account for the true number of spam accounts on the platform.
Twitter sued Musk to make him proceed with the deal, while the businessman countersued, with another note following in august, citing serious security flaws of the platform as an additional argument.
