Tech

Elon Musk, Twitter CEO Parag Agrawal Said To Defer Deposits Before The Upcoming Test


Tesla CEO Elon Musk won after questioning by Twitter lawyers on Monday, according to several media reports. The billionaire was scheduled to give a verdict in a fight with Twitter over whether he was subject to a deal to buy the social platform for US$44 billion (about 3,37,465 crore). .

Instead of, Musk’s the interrogation has been adjourned to a future date. Twitter Parag CEO Agrawal, who is also scheduled to face Musk’s lawyers on Monday, has also postponed his removal, according to a person briefed on the matter.

Musk’s suspension of the transaction was reported by Bloomberg, Reuters and the Wall Street Journal, all of which attributed the information to anonymous sources.

News of the trading postponement prompted a brief rally on Twitter shares, up 5.4% to $43.03 (about Rs 3,500), seemingly in hopes of a settlement in the incident. . That enthusiasm will wane later in the day. Twitter shares closed Monday at $41.58 (about Rs 3,300), 8 cents higher than it opened.

Court watchers say such postponements are not uncommon ahead of important hearings. A hearing on several key pre-trial motions is scheduled for Tuesday.

Both men are expected to answer questions posed by opposition lawyers ahead of a trial in October that will determine who is at fault for what appears to be a collapse in Musk’s Twitter bid. , not to mention who owes whom large sums of money. The trial will begin October 17 at Delaware Chancery Court, which is expected to last just five days.

In April, Musk, the world’s richest man, agreed to buy Twitter and go private, offering $54.20 (about Rs 4,180) a share and vowing to ease internal policy company content and remove fake accounts. In July, he tried to back out of the deal, leveling several accusations on Twitter as justification for his actions.

Twitter later sued Musk to force him to complete the acquisition.




Source link

news7f

News7F: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, Sports...at the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button