London Mail
  • Home
  • World
  • News
  • Opinion
  • Business
  • Tech
  • Science
  • Sports
  • Lifestyle
  • Health
  • Motering/Cars
  • More
    • Entertainment
    • Travel
    • Crypto
    • Food
    • Home Improvment
      • Real Estate
    • Press Release
No Result
View All Result
  • Home
  • World
  • News
  • Opinion
  • Business
  • Tech
  • Science
  • Sports
  • Lifestyle
  • Health
  • Motering/Cars
  • More
    • Entertainment
    • Travel
    • Crypto
    • Food
    • Home Improvment
      • Real Estate
    • Press Release
No Result
View All Result
London Mail
No Result
View All Result
Home Tech

Twitter granted fast-track trial in bid to force Elon Musk to complete $44bn takeover

by London Mail
December 24, 2023
in Tech
Reading Time: 2 mins read
0
SHARES
Share on FacebookShare on Twitter

Twitter has been granted a fast-track hearing in its attempt to force Elon Musk to complete his $44bn takeover, after accusing the Tesla billionaire of harming the company “every hour of every day”.

Delaware judge Kathaleen McCormick ruled in favour of Twitter on Tuesday, setting a trial date for October. Mr Musk’s lawyers had attempted to push the trial back to next year. 

Twitter will argue Mr Musk should be forced to go through with his takeover, which was agreed in April but collapsed earlier this month.

Mr Musk walked away after claiming Twitter had failed to make appropriate disclosures about the number of fake accounts on the site.

Lawyers for the social media company on Tuesday accused Mr Musk of “conjuring an exit ramp” by claiming the company was misleading investors.

Mr Musk has claimed that Twitter’s reported number of “bots”, or spam accounts, is too low. Twitter has said roughly 5pc of accounts on the site are bots. Mr Musk has claimed the true figure is closer to 20pc.

During a Zoom hearing in the Chancery Court of Delaware, Twitter said it did not matter how many bots were on the site and argued Mr Musk was required to complete the merger. 

Bill Savitt, a partner at the firm Wachtell, Lipton, Rosen & Katz, said Mr Musk “began to have second thoughts” about the deal and has since “pretended to continue to try to complete” the merger. 

The lawyer for Twitter said Mr Musk issued spurious requests for data that Twitter was not obliged to provide, while attempting to “sabotage” the takeover by attacking Twitter in public.

In response, Mr Musk’s lawyers from the firm Quinn Emanuel Urquhart & Sullivan claimed Twitter had given the billionaire “the runaround” after he asked for data about bot accounts on the site.

Twitter had demanded a “completely unjustifiable schedule” for the trial, they claimed, which they argued would require each side to sift through huge amounts of data.

Twitter is trying to force Mr Musk to go through with his offer of $54.20 per share, far above its current share price of around $40. Twitter’s shares rose 3pc in early trading on Tuesday after the granting of a court date later this year.

Elon Musk still owns around 9pc of Twitter. The company’s lawyers claimed the billionaire had continued to use powers provided by the merger deal to hold up Twitter’s normal business activities. 

Andrew Rossman, of Quinn Emanuel, added: “The idea Mr Musk is trying to damage the company is preposterous.”

The case continues.

Source link

Related Posts

IMGP4O: Empowering the Future Digital Economy Through Democratized AI Compute
Tech

IMGP4O: Empowering the Future Digital Economy Through Democratized AI Compute

May 31, 2025
The benefits of using AI in business
Tech

The benefits of using AI in business

March 27, 2024
Apple reveals four new phones with better battery and camera
Tech

Apple reveals four new phones with better battery and camera

February 20, 2024
Next Post
Britain faces a deep-rooted economic mess

Britain faces a deep-rooted economic mess

David Tennant Macbeth at Donmar is the thrilling future of theatre | Theatre | Entertainment

David Tennant Macbeth at Donmar is the thrilling future of theatre | Theatre | Entertainment

Cambridge professor raises £50m for 5-minute electric car charging

Cambridge professor raises £50m for 5-minute electric car charging

Recommended

M&S boss criticises post-Brexit food labelling as ‘bureaucratic madness’

M&S boss criticises post-Brexit food labelling as ‘bureaucratic madness’

2 weeks ago
REVEALED: The exorbitant thousands of dollars members of Congress spent at DC’s swankiest steakhouses

REVEALED: The exorbitant thousands of dollars members of Congress spent at DC’s swankiest steakhouses

4 months ago
I had a heart attack at 46 despite being perfectly healthy – here’s the little-known warning signs I ignored

I had a heart attack at 46 despite being perfectly healthy – here’s the little-known warning signs I ignored

4 months ago
Apple’s $17bn smartwatch rescue mission: Tech giant races to avoid historic ban in the US that could last until 2028

Apple’s $17bn smartwatch rescue mission: Tech giant races to avoid historic ban in the US that could last until 2028

2 years ago

Categories

  • Business
  • Crypto
  • Entertainment
  • Food
  • Health
  • Home Improvment
  • Lifestyle
  • Motering/Cars
  • News
  • Opinion
  • Press Release
  • Real Estate
  • Science
  • Sports
  • Tech
  • Travel
  • World
No Result
View All Result

Highlights

The new ‘It’ girl and supermodel who look YEARS older… as experts issue stark warning about beauty treatment used by millions

UK’s busiest airport to cut queues to less than 5 minutes – but it will push up fares

Expert urges UK households to turn off fans before going to sleep during heatwave

Top Michelin chefs reinvent ‘lunch al desko’ with gourmet feasts for just £3

This easy lemon drizzle cake cooks entirely in an air fryer with six ingredients

Superyacht ‘murder’ horror: ‘Golden girl’ crew member, 20, is found dead in engine room of £100,000-a-week luxury vessel moored in Bahamas

London Mail

London Mail | Stay Informed, Stay Inspired ©2025, All rights Reserved

Navigate Site

  • Home
  • About
  • Advertise
  • Contact

Follow Us

No Result
View All Result
  • Home
  • Tech
  • News
  • Business
  • Science
  • Health
  • Sports
  • Lifestyle
  • Travel
  • Opinion

London Mail | Stay Informed, Stay Inspired ©2025, All rights Reserved