Posted BY: Wyatt | NwoReport
Elon Musk has won his stay of the trial from the judge so that he and Twitter can move ahead with closing the deal:
BREAKING: Twitter v. Musk is now stayed until Oct. 28 to allow the parties to close the transaction.— kate conger (@kateconger) October 6, 2022
Here’s the ruling by the judge:
Defendants and Counterclaim-Plaintiffs Elon R. Musk, X Holdings I, Inc., and X Holdings II, Inc. (collectively, “Defendants”) have agreed to close on the Agreement and Plan of Merger dated April 25, 2022, and they have moved to stay this action in light of their agreement. Defendants have stated that “the closing is expected on or around October 28, 2022.”
Plaintiff Twitter, Inc. opposes the motion on the basis that Defendants’ agreement will not ensure that the transaction closes fast enough.
This action is stayed until 5 p.m. on October 28, 2022, to permit the parties to close on the transaction. If the transaction does not close by 5 p.m. on October 28, 2022, the parties are instructed to contact me by email that evening to obtain November 2022 trial dates.
So the deal should close by the end of the month and Musk can get on with fixing the mess he just bought.