The judge for the trial of Twitter and Musk and gives them until the end of the month to agree

The court has paralyzed Twitter’s case against Elon Musk for the failed purchase offer, giving the parties time to reach an agreement. Judge Kathaleen McCormick has accepted Elon Musk’s request to suspend the litigation (and his statement scheduled for the 17th) to give time to receive the necessary financing to close the purchase agreement. The ruling is a partial victory for Musk, who was the one who requested the interruption, but it forces him to close the purchase before the end of the month. On the 28th at 5:00 p.m. the process will resume.

The process has been going on since Elon Musk withdrew the purchase offer for the social network, valued at 44,000 million dollars. The operation was launched at 54.2 euros but later, and once the technology shares fell sharply, the founder of Tesla and SpaceX canceled the operation, arguing that he had not received accurate information about the false accounts on Twitter. The company demanded that the offer be executed, and once the trial began, Musk has changed his mind again.

Shares of the company rose 3.5% in the after-hours market, a sign that investors give credence to the eventual deal. However, the parties continue to face each other, arriving yesterday to exchange insults. Negotiations stalled after Musk argued that his offer was now contingent on receiving $13 billion in debt financing. The original deal contained no such contingency. Twitter objected to stalling the process, demanding Musk shut down the deal next week. week, and demanded guarantees that this time Musk will comply with the agreement and would consider alternatives such as judicial supervision Musk would have assured that the lawyers representing the funds that will finance (Apollo Global Management and Sixt Street Partners) are prepared to comply with their obligations, so it expects to close the operation in the coming weeks.

Following the judge’s ruling, Twitter General Counsel Sean Edgett sent an update to employees, saying the company will not go to court on October 17 and will work to close the deal by October 28, as ordered by the court. judge. “Our intent remains the same: to close the acquisition at the price and terms of the original merger agreement,” Edgett wrote. For his part, Musk began tweeting about his plans for Twitter.

Since Twitter has already received shareholder support for the sale to Musk, the deal could close quickly if the two sides agree on the original terms. In fact, in June, Twitter said that the waiting period for antitrust clearance had expired, indicating that the deal could go ahead.