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| Elon Musk: Twitter won't 'take yes for an answer' | |
| (32 minutes later) | |
| Elon Musk | Elon Musk |
| Billionaire Elon Musk has said he aims to complete his purchase of Twitter by the end of the month, but the company "will not take yes for an answer". | |
| In a court filing, he said the social media platform had raised concerns about the "theoretical possibility of a future failure to obtain debt financing" to pay for the deal. | In a court filing, he said the social media platform had raised concerns about the "theoretical possibility of a future failure to obtain debt financing" to pay for the deal. |
| Twitter had sued Mr Musk to force him to go ahead with the acquisition. | Twitter had sued Mr Musk to force him to go ahead with the acquisition. |
| Mr Musk asked the court to put that legal fight on hold. | Mr Musk asked the court to put that legal fight on hold. |
| The move comes just days after Mr Musk sent a letter to Twitter saying he would proceed with the takeover as originally planned, pending receipt of the financing and an end to the legal battle. | The move comes just days after Mr Musk sent a letter to Twitter saying he would proceed with the takeover as originally planned, pending receipt of the financing and an end to the legal battle. |
| "There is no need for an expedited trial to order defendants to do what they are already doing," Mr Musk's attorneys wrote in a filing. | "There is no need for an expedited trial to order defendants to do what they are already doing," Mr Musk's attorneys wrote in a filing. |
| "Yet, Twitter will not take yes for an answer. Astonishingly they have insisted on proceeding with this litigation, recklessly putting the deal at risk and gambling with their stockholders interests." | "Yet, Twitter will not take yes for an answer. Astonishingly they have insisted on proceeding with this litigation, recklessly putting the deal at risk and gambling with their stockholders interests." |
| Mr Musk announced a plan to buy Twitter for $54.20 per share in April. But he backed away from the deal just a few weeks later saying he was concerned that spam accounts on the platform were higher than Twitter had claimed. | Mr Musk announced a plan to buy Twitter for $54.20 per share in April. But he backed away from the deal just a few weeks later saying he was concerned that spam accounts on the platform were higher than Twitter had claimed. |
| Mr Musk was due to be questioned this week as part of the preparation for the trial, which was scheduled to begin 17 October. | Mr Musk was due to be questioned this week as part of the preparation for the trial, which was scheduled to begin 17 October. |
| Shares in Twitter ended the day down more than 3%, amid investor doubts the deal will go through. | Shares in Twitter ended the day down more than 3%, amid investor doubts the deal will go through. |