A US Delaware court has ended the ongoing legal battle between Elon Musk and Twitter for now. The court has stayed the case to complete the $44 billion deal to buy Twitter. According to information, the deal to buy Twitter by Elon Musk is to be completed by 5 pm on October 28, 2022.\
The court has directed the parties involved in the case that if a deal is not reached on the scheduled date and time, the case may be re-heard in November 2022. Tesla CEO Elon Musk has been trying to get out of a deal to buy Twitter for the past three months.
Case on hold to complete paperwork
On Thursday, the lawyers representing Musk asked the court to suspend the court case pending completion of the Twitter purchase agreement. In order to complete the loan and other paperwork to complete the acquisition. The entire process is expected to be completed by 28 October 2022.
Indications were given to move on to the real deal
Notably, Tesla CEO Elon Musk last Monday hinted at moving forward on an actual $44 billion deal to acquire Twitter. At the same time, Musk has also talked about ending the legal battle over the purchase of Twitter. After this news, it has been reported with reference to some sources of Bloomberg that trading had to be stopped due to the boom in Twitter shares. Musk offered to buy Twitter for $54.20 per share. The company’s shares rose 13 percent to $47.95 after the news.