Advertisement
UK markets open in 5 hours 32 minutes
  • NIKKEI 225

    37,826.36
    -135.44 (-0.36%)
     
  • HANG SENG

    16,251.84
    0.00 (0.00%)
     
  • CRUDE OIL

    82.77
    +0.08 (+0.10%)
     
  • GOLD FUTURES

    2,384.00
    -4.40 (-0.18%)
     
  • DOW

    37,753.31
    -45.66 (-0.12%)
     
  • Bitcoin GBP

    49,467.96
    -1,881.66 (-3.66%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • NASDAQ Composite

    15,683.37
    -181.88 (-1.15%)
     
  • UK FTSE All Share

    4,273.02
    +12.61 (+0.30%)
     

Twitter and Elon Musk trial confirmed for October 17

Twitter's bid to get Elon Musk to follow through with his multibillion-dollar bid to buy the social network will officially go to trial on October 17, a Delaware judge has confirmed.

As Bloomberg reported earlier today, the ongoing feud between Twitter and the world's wealthiest man will come to a head in the Delaware Court of Chancery from October 17-20.

The ongoing saga has taken many twists and turns since Elon Musk's $44 billion offer was accepted by Twitter back in April. The Tesla and SpaceX CEO decided he didn’t want to buy Twitter any more, citing a lack of clarity on Twitter's bot data, but Twitter has been pushing to force the deal through legal action.

While Musk initially wanted to delay a trial until next February, a judge last week ruled that Twitter could accelerate proceedings to October this year -- though we didn't know a specific date until today. Musk can perhaps claim a minor victory, though, given that he had more recently sought a start date of October 17 vs. Twitter's request of October 10.

At its Q2 earnings report last week, Twitter revealed that it had spent $33 million during the previous quarter on the pending acquisition, a figure that can only escalate in the months leading to the trial.