Elon Musk Twitter Deal Update: Billionaire Got Pre-Trial Deposition Delay, But Not a Discount

Elon Musk revives the controversial Twitter acquisition after he announced that he would continue his promised billion-dollar purchase.

Of course, his announcement triggered many of his critics and fans since the tech CEO recently said that he would no longer purchase Twitter.

Previously, Musk said he would cancel the Twitter takeover because the social media giant misled him regarding the total number of fake accounts.

But, the Tesla boss suddenly sent a letter to Twitter, saying that he would go through with his agreement to purchase the company.

Twitter Delays Elon Musk Pre-Trial Deposition!

According to Gizmodo's latest report, in the official letter sent to Twitter, Elon said he wants to have a discount for the original $44 billion acquisition price.

Aside from this, the billionaire also wanted the online platform to delay his pre-trial deposition. Of course, Twitter declined the discount request.

Instead, the social media giant agreed to delay the CEO's deposition. Musk's pre-trial deposition, which is scheduled on Oct. 7 in Austin, Texas, didn't happen because of Twitter's decision.

But, the actual trial is still scheduled on Oct. 17. Judge Kathaleen McCormick explained that even if Twitter cancels legal proceedings, the trial will continue since neither party has taken formal action regarding the matter.

Twitter Shares Surge!

As of writing, Elon Musk agreed to the original price of $44 billion to acquire Twitter. But, based on the recent happenings, it is still hard to conclude that the billionaire will keep his word.

But, thanks to his sudden announcement, Twitter's shares increased more than 22%, as reported by CNBC. This means that Musk needs to buy the company for $54.20 per share.

"The intention of the company is to close the transaction at $54.20 per share," responded Twitter to Elon's letter.

You can visit this link to see more details about the Twitter acquisition revival.

In other stories, a Twitter whistleblower said that he would testify about the company's security issues.

Meanwhile, Elon Musk claimed that 90% of Twitter comments on his account are bots.

For more news updates about Elon Musk and Twitter, keep your tabs open here at TechTimes.

This article is owned by TechTimes

Written by Griffin Davis