Twitter Takes a Stand Against Elon Musk
On Monday, July 18, Twitter shot straight at Elon Musk in court, saying he’s been dragging his feet on the big picture deal that put the company on his plate. The tweet men were not just throwing legal jargon around—they wanted to make sure the deal’s financing stays solid until the finish line.
Why Twitter’s Spinning Wheels?
“Millions of Twitter shares trade daily under a cloud of Musk‑created doubt,” the company put on paper. “No public company of this size and scale has ever had to bear these uncertainties.” In other words, the stock’s been feeling the jitters thanks to a rollercoaster of rumors and half‑baked guesses about how the deal would look when it actually lands.
The Legal Battle Keeps Rolling
- Twitter sued Musk and wants a Delaware judge to force him to seal the deal at the agreed $54.20 per share.
- If the judge steps in, Twitter warns it may have to wrestle through months of extra litigation to line up the debt financing that’s set to expire in April.
- Because of that risk, Twitter blocked Musk’s proposal to hold the trial in February, worrying that an early showdown could mess with the financing timeline.
Musk’s Response
The billionaire, who’s also juggles steering electric cars at Tesla, counters that Twitter is rushing the trial to hide a syndicate of spam accounts. He’s also pushing back with a “railroad” accusation—claiming the trial’s timeline is meant to force him into buying the company.
The Next Big Moment
Both sides are set to lay out their arguments about the trial’s start date on Tuesday before a judge in the Delaware Court of Chancery. Watch this space—things are heating up faster than a hot day in Wilmington.
What’s Happening on the Market?
Twitter’s share price dropped from over $50 back when the deal first hit the headlines in April to under $33 last week. Yet the stock still climbed 1.8% to close at $38.41 on Monday—so the market’s still wondering what will happen next.
Stay tuned for updates—this saga could change how we all see corporate takeovers, and maybe add a few laughs along the way.
