Advertisement
Australia markets closed
  • ALL ORDS

    7,937.50
    -0.40 (-0.01%)
     
  • ASX 200

    7,683.00
    -0.50 (-0.01%)
     
  • AUD/USD

    0.6503
    +0.0003 (+0.04%)
     
  • OIL

    82.74
    -0.07 (-0.08%)
     
  • GOLD

    2,329.00
    -9.40 (-0.40%)
     
  • Bitcoin AUD

    98,993.40
    -3,420.36 (-3.34%)
     
  • CMC Crypto 200

    1,388.46
    -35.64 (-2.50%)
     
  • AUD/EUR

    0.6072
    +0.0002 (+0.03%)
     
  • AUD/NZD

    1.0943
    +0.0002 (+0.02%)
     
  • NZX 50

    11,946.43
    +143.15 (+1.21%)
     
  • NASDAQ

    17,526.80
    +55.33 (+0.32%)
     
  • FTSE

    8,040.38
    -4.43 (-0.06%)
     
  • Dow Jones

    38,460.92
    -42.77 (-0.11%)
     
  • DAX

    18,088.70
    -48.95 (-0.27%)
     
  • Hang Seng

    17,201.27
    +372.34 (+2.21%)
     
  • NIKKEI 225

    38,091.79
    -368.29 (-0.96%)
     

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.