Elon Musk decided on Tuesday to proceed with the $ 44 million Twitter purchase, just days before the trial for his intention to back down. Although the employer has chosen to continue with the agreement, the process is still ongoing while the two parties involved try to agree on the final terms of the operation.
The social networking company wants Musk to offer guarantees that he will honor the deal this time around. According to the US media, a judicial control for the closing of the sale or demand payment of interest if the tycoon continues to delay the purchase.
Musk’s lawyers had tried to delay the trials on several occasions, however their attempts had been in vain and the date was kept. until October 17. Despite the fact that the businessman is now willing to pay, Twitter has not dropped the lawsuit due to Musk’s attempt to breach the contract and not pay the $ 1 billion fine.
Although the trial is still ongoing, Twitter’s lawyers agreed postpone a meeting they planned to interview Tesla’s CEO to prepare for the trial.
Musk tried to downgrade the deal
Before giving up and resuming the Twitter purchase, the Times claims that Musk tried to ask for a discount of up to 30% with no success. Subsequently, both sides held talks focused on a reduction of about 10% even this did not seem to convince the company.
Faced with Twitter’s refusal, Musk surprised by agreeing to abide by the original terms of the contract. His intention was to avoid trial.
According to some expert analysts, this scuffle between Twitter and the billionaire have damaged the value of the social network. This could cause the banks that Musk used to finance the payment of the $ 44 trillion to become reluctant to put the money in.
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