Twitter says there’s a financing problem and that Musk won’t commit to closing date. Judge Kathaleen McCormick granted Musk’s motion for a stay yesterday, preventing the trial from beginning on October 17 as scheduled. Twitter’s response said Musk should have completed the merger long ago: ‘The obstacle to terminating this litigation is not that Twitter is unwilling to take yes for an answer. The obstacle is that Defendants still refuse to accept their contractual obligations. For months, Defendants have pursued increasingly implausible claims and over sought to delay trial on the merits to enforce the Merger Agreement,’ Twitter wrote. Judge McCormick’s grant of the stay does not give Musk ‘an indefinite time to close’ If Musk doesn’t close by October 28, a new trial would be scheduled for November. . . .
Read more at arstechnica.com
