A tentative agreement agreed earlier this week for Tesla and SpaceX CEO Elon Musk to acquire Twitter has allegedly stalled, with Musk’s attorneys alleging that Twitter has rejected the offer.
The announcement comes only two days after Musk and Twitter revealed plans to “close the transaction” at the $44 billion price originally negotiated in April 2022.
Twitter eventually sued Musk to compel him to comply with the terms of the first agreement after Musk repeatedly sought to evade it, but Musk’s attorneys are now requesting that the October 17 trial be postponed, according to a petition by Musk’s attorneys.
“Twitter will not take yes for an answer,” the filing reads. “Astonishingly, they have insisted on proceeding with this litigation, recklessly putting the deal at risk and gambling with their stockholders’ interests.”
According to the WSJ, lawyers for both Musk and Twitter were finalizing the terms of the agreement as recently as Thursday morning. According to the WSJ, citing an unnamed source with knowledge of the situation, both parties wanted to stop the intended trial to allow for more time to negotiate a settlement. However, the communication between the two parties had the potential to “turn suddenly.”
According to The Wall Street Journal, Twitter stock skyrocketed when the tentative agreement was disclosed earlier this week, bringing some investors enormous profits.
Neither Twitter nor Musk’s attorneys replied quickly to a request for comment by the Daily Caller News Foundation.