As Elon Musk prepares to buy Twitter for $44 billion, a judge in the U.S. state of Delaware issued an order abruptly suspending Twitter’s lawsuit against Elon Musk before a court hearing, thus allowing more time for Elon Musk to raise funds for the acquisition.
The lawsuit stays until 5 p.m. EDT Oct. 28 so that Elon Musk would have more time to raise money. Judge Kathaleen McCormick said the parties will contact her to schedule a trial in November if the deal doesn’t close by the deadline she set. Elon Musk was scheduled to go to trial on Oct. 17, but that has now been postponed.
Twitter shares were down 3.72 percent in regular trading today and down 1.11 percent after hours.
ElonMusk made another statement this week that he wants to buy Twitter at the price he finalized in April, which is $54.20 per share.
