It has finally happened! Musk now owns Twitter

<p>A court filing has revealed that Tesla CEO Elon Musk has asked a judge to postpone the five-day trial with Twitter by a week.</p>

<p>While Twitter Inc had requested October 10 to be the date marking the beginning of the trial, Musk has asked the judge to shift it to October 17 instead.</p>

<p>In order to "break the impasse to allow things to move forward promptly," Musk requested the judge to resolve his bid to walk away from his $44 billion deal to acquire the social media platform.</p>

<p>Accusing Twitter of slow-walking document production in advance of the trial to decide whether the Tesla CEO should be forced to complete the deal, Musk's attorneys said the social media giant is using the uncertainty over a trial date to delay other scheduling discussions.</p>

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<p>Asking Twitter to immediately produce what it called "core documents," Musk said the San Francisco-based company misrepresented its user numbers and therefore breached the merger agreement.</p>

<p>Recommending shareholders' to vote for the completion of the deal, Twitter has set September 13 as the date for its shareholders to vote on the company’s pending buyout by Musk.</p>

<p>It wrote a letter to its shareholders stating “We are committed to closing the merger on the price and terms agreed upon with Mr. Musk. Your vote at the special meeting is critical to our ability to complete the merger.”</p>

<p>Vowing to loosen the company’s policing of content and root out fake accounts, Musk agreed in April to buy Twitter and take it private.</p>

<p>Both Twitter and Musk had agreed to pay each other a $1 billion breakup fee if either was responsible for the deal collapsing.</p>

<p><em>(With inputs from agencies)</em></p>

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A court filing has revealed that Tesla CEO Elon Musk has asked a judge to postpone the five-day trial with Twitter by a week. While Twitter Inc had requested October 10 to be the date marking the beginning of the trial, Musk has asked the judge to shift it to October 17 instead.

A court filing has revealed that Tesla CEO Elon Musk has asked a judge to postpone the five-day trial with Twitter by a week. While Twitter Inc had requested October 10 to be the date marking the beginning of the trial, Musk has asked the judge to shift it to October 17 instead. In order to "break the impasse to allow things to move forward promptly," Musk requested the judge to resolve his bid to walk away from his $44 billion deal to acquire the social media platform. Accusing Twitter of slow-walking document production in advance of the trial to decide whether the Tesla CEO should be forced to complete the deal, Musk's attorneys said the social media giant is using the uncertainty over a trial date to delay other scheduling discussions. × Asking Twitter to immediately produce what it called "core documents," Musk said the San Francisco-based company misrepresented its user numbers and therefore breached the merger agreement. Recommending shareholders' to vote for the completion of the deal, Twitter has set September 13 as the date for its shareholders to vote on the company’s pending buyout by Musk. It wrote a letter to its shareholders stating “We are committed to closing the merger on the price and terms agreed upon with Mr. Musk. Your vote at the special meeting is critical to our ability to complete the merger.” Vowing to loosen the company’s policing of content and root out fake accounts, Musk agreed in April to buy Twitter and take it private. Both Twitter and Musk had agreed to pay each other a $1 billion breakup fee if either was responsible for the deal collapsing. (With inputs from agencies) Watch WION's live TV here: ×

Elon Musk-Twitter spat: Tesla CEO asks judge to begin trial on October 17

<p>Two days after Twitter's shareholders blocked the re-election of Elon Musk's ally Egon Durban, the company has said in a filing that will not accept his resignation from the board.</p>

<p>Due to "voting policies of certain institutional investors regarding board service limitations," Durban failed to receive the support of a majority of the votes in the re-election held earlier this week according to Twitter.</p>

<p>The shareholders felt Durban could not reduce his board service commitments as he already serves on the boards of six other companies.</p>

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<p>This is why it did not re-elect him despite bringing "an unparalleled operational knowledge of the industry" and being an "effective member" of the board.</p>

<p>Billionaire Elon Musk, who is the world's richest man, had offered a cash deal worth $44 billion to buy tech giant Twitter.</p>

<p>Tech experts believe that shareholders' blocking could indicate skepticism among shareholders of Musk's plan or his willingness to pay what he offered.</p>

<p>Interestingly, Durban has a history of assisting Musk by financing his projects. He is the co-CEO at Silver Lake Partners and not only helped Musk put together money for his Twitter deal but also offered to help him when he contemplated a $72 billion bid to take electric-car maker Tesla Inc private.</p>

<p>Musk had announced on Twitter that his deal to acquire to social media platform was "temporarily on hold" while he sought more information about the proportion of fake accounts on the microblogging site.</p>

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— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1530380264966434823?ref_src=twsrc%5Etfw">May 28, 2022</a></blockquote>
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<p>The US Securities and Exchange Commission (SEC), with which Musk has conflicting history, has asked the Tesla CEO to explain an apparent delay in reporting his Twitter stock buys.&nbsp;</p>

<p>In 2018, the SEC had imposed a massive fine of $20 million each on both Musk and Tesla for misleading shareholders that he had "secured" funding to take the company private.</p>

<p><em>(With inputs from agencies)</em></p>

<p><strong>Watch WION's live TV here:</strong></p>

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Two days after Twitter's shareholders blocked the re-election of Elon Musk's ally Egon Durban, the company has said in a filing that will not accept his resignation from the board.

Two days after Twitter's shareholders blocked the re-election of Elon Musk's ally Egon Durban, the company has said in a filing that will not accept his resignation from the board. Due to "voting policies of certain institutional investors regarding board service limitations," Durban failed to receive the support of a majority of the votes in the re-election held earlier this week according to Twitter. The shareholders felt Durban could not reduce his board service commitments as he already serves on the boards of six other companies. This is why it did not re-elect him despite bringing "an unparalleled operational knowledge of the industry" and being an "effective member" of the board. Billionaire Elon Musk, who is the world's richest man, had offered a cash deal worth $44 billion to buy tech giant Twitter. Tech experts believe that shareholders' blocking could indicate skepticism among shareholders of Musk's plan or his willingness to pay what he offered. Interestingly, Durban has a history of assisting Musk by financing his projects. He is the co-CEO at Silver Lake Partners and not only helped Musk put together money for his Twitter deal but also offered to help him when he contemplated a $72 billion bid to take electric-car maker Tesla Inc private. Musk had announced on Twitter that his deal to acquire to social media platform was "temporarily on hold" while he sought more information about the proportion of fake accounts on the microblogging site. pic.twitter.com/USLO967YsJ — Elon Musk (@elonmusk) May 28, 2022 × The US Securities and Exchange Commission (SEC), with which Musk has conflicting history, has asked the Tesla CEO to explain an apparent delay in reporting his Twitter stock buys. In 2018, the SEC had imposed a massive fine of $20 million each on both Musk and Tesla for misleading shareholders that he had "secured" funding to take the company private. (With inputs from agencies) Watch WION's live TV here:

Twitter rejects resignation of Musk ally Durban after shareholders blocked his re-election