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Elon Musk seeks stay of Twitter litigation for Oct 28 deal close

Tesla chief's request comes 2 days after the billionaire revived his takeover plan, following an earlier withdrawal from the $44-billion transaction

Published: Thu 6 Oct 2022, 11:41 PM

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  • Reuters

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Elon Musk requested a judge stay his litigation with Twitter Inc pending the receipt of financing for the $44 billion deal, which he said is expected to close at $54.20 per share on or around Oct. 28, according to a court filing.

"As a result there is no need for an expedited trial to order Defendants to do what they are already doing and this action is now moot," said the filing.

A five-day trial is scheduled to begin Oct 17 and Musk was scheduled to be deposed on Thursday, although the parties mutually agreed to postpone his interview, sources told Reuters.

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