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WILMINGTON: A Delaware judge on Thursday ordered a halt to Twitter<\/a> Inc's lawsuit against Elon Musk<\/a> on the eve of trial, giving the billionaire time to finance his $44 billion takeover of the social media platform<\/a>.
The ruling followed days of uncertainty about Musk<\/a>'s intentions and removed the threat that the erratic entrepreneur would have to testify under oath this week about his claims that Twitter fraudulently misled him.
The judge's order said if Musk, the world's richest person, failed to close by her Oct. 28 5 p.m. EDT deadline, she would schedule a trial for November.
\"We look forward to closing the transaction at $54.20 by Oct. 28th,\" Twitter said in a statement. In an earlier court filing, the company urged the judge to reject the proposal, calling Musk's plan \"an invitation to further mischief and delay.\"
Musk, chief executive of electric carmaker Tesla Inc, was scheduled to go to trial on Oct. 17 and his Thursday deposition was postponed by mutual agreement.
Twitter shares, which ended the day down 3.7% at $49.39, rose 1% after hours as investors appeared reassured after days of confusion. This week, Musk said he would purchase Twitter at the $54.20 per share price he agreed in April, on the condition the deal could secure debt financing.
That marked a reversal for Musk, who spent months in litigation with Twitter as he tried to get out of the deal. He claimed Twitter misrepresented the number of real users on its platform, among other claims.
Musk said in a Thursday court filing banks are working cooperatively to fund the deal but he needed more time. He argued that a brief delay was preferable to the months it would take for a trial and appeal.
Twitter had said Musk should have to close next week and it said a corporate representative for a lending bank testified on Thursday that Musk has yet to send them a borrowing notice and has not communicated that he intends to close.
Major banks that committed to fund $12.5 billion, or about 28% of the deal, could be facing hefty losses as the swift pace of interest rate hikes has ratcheted up market volatility and dampened appetite for leveraged financing.
\"There's still some uncertainty based on whether or not Elon can find the actual financing to do the deal,\" said Randy Frederick, managing director of trading and derivatives for the Schwab Center.
Musk has raised $15.4 billion by selling Tesla shares this year and is leaning on large investors for a chunk of the financing, leading to speculation over whether he will sell more of the electric-vehicle maker's stock to fund the deal.
\"Financing will eventually end up going through one way or another. It is just a point of negotiating terms at this stage,\" said Robert Gilliland, managing director at Concenture Wealth Management.
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Twitter诉讼中止Elon Musk可以关闭交易,10月28日
执政之后的日子不确定性麝香的意图和删除的威胁不稳定的企业家必须宣誓作证本周宣称Twitter欺诈误导了他。
特拉华州威明顿:法官周四下令停止推特公司的起诉Elon Musk庭审前夕,给亿万富翁时间为他的440亿美元收购融资社交媒体平台。
执政之后天的不确定性麝香的意图和去除不稳定的威胁企业家必须宣誓作证本周宣称Twitter欺诈误导了他。
法官的命令说如果麝香,世界上最富有的人,没能接近她的10月28日下午5点,美国东部时间期限,她会安排11月的审判。
“我们期待交易收于54.20美元,10月28日,“推特在一份声明中说。在早前的法庭文件中,该公司敦促法官拒绝这一提议,称麝香的计划“邀请进一步恶作剧和延迟。”
麝香,特斯拉电动汽车公司的首席执行官,原定去审判周四10月17日和他的沉积由双方协议推迟。
Twitter股票收盘跌3.7%,报49.39美元,上涨1%,几个小时后,投资者似乎放心天的混乱。本周,麝香表示,他将购买Twitter以每股54.20美元的价格他同意今年4月,条件交易安全的债务融资。
麝香,标志着一个逆转,他们花了几个月的时间与Twitter在诉讼中,他试图摆脱。他宣称Twitter歪曲真实用户的数量在其平台上,其他要求。
麝香周四法庭文件中称银行正在合作基金交易但他需要更多的时间。他认为,一个短暂的延迟比几个月需要审理和上诉。
Twitter说下周麝香应该关闭,它说一个法人代表贷款银行周四证实,麝香尚未送他们借贷通知,没有沟通,他打算关闭。
主要银行,致力于基金125亿美元,或约28%的交易,可能面临巨额损失迅速加息步伐逐步加大了市场波动和杠杆融资抑制食欲。
“仍有一些不确定性基础上伦是否可以找到实际的融资交易,”兰迪·弗雷德里克说,交易和衍生品的董事总经理嘉信理财中心。
麝香已经筹集了154亿美元,今年销售特斯拉的股票,是靠在一块的大型投资者融资,导致猜测他是否会出售更多的电动汽车制造商的股票基金交易。
“融资将最终经历这样或那样的方式。这只是一个谈判的条款在这个阶段,“董事总经理罗伯特•Gilliland说Concenture财富管理。
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