View source for BREAKING: Musk Deposition Is DELAYED For Negotiations

's deposition was delayed on Thursday as he and Twitter executives continue to negotiate the terms of his $44 billion takeover.<br>Both sides agreed to delay Musk's deposition, scheduled for Thursday in Texas, as they continue to iron out a deal that would halt a non-jury trial in Delaware on October 17, according to the <br>Among the many issues they are said to be discussing is whether the  CEO will try to make the deal contingent on his original $12.5 billion debt-financing package, as banks try to weasel their way out of the agreement.<br>The banks could argue that Musk's antics in delaying the agreement have sufficiently damaged Twitter, enough to qualify as a material adverse effect, letting them walk away, the  reports.<br>And Musk could even foil his own deal by refusing to sign a letter certifying Twitter is solvent, though the judge in the case is likely to force the billionaire to sue the banks for the agreed-upon money under the New York law that governs them. <br>Twitter executives, on the other hand,  canlı poker siteleri are trying to make sure Musk won't back out of his agreement again, seeking a reaffirmation of the specifics in the previously-agreed-to contract.<br>They are also considering options like court supervision of the closing process, and requesting that Musk pay interest to make up for the delays.<br>Without an agreement, neither side has requested a delay in the trial, and it is still scheduled for later in the month.<br>'The parties have not filed a stipulation to stay this action, nor has any party moved for a stay. I, therefore, continue to press on toward our trial set to begin on October 17, 2022,' wrote Chancellor Kathaleen McCormick, the judge on Delaware's Court of Chancery, in a court filing on Wednesday. <br>       Tesla CEO Elon Musk will not have to answer questions in a deposition scheduled for  canlı poker siteleri Thursday as his representatives and Twitter executives try to iron out the details of his $44 billion takeover <br>        Twitter executives are considering requesting that Musk pay interest to make up for the delays. Twitter CEO Parag Agrawal is pictured here in July<br>Musk surprised investors on Monday when he suddenly announced he would abide by his April agreement to buy the company at $54.20 a share if Twitter dropped its litigation against him.<br>But the proposal included a condition that the deal closing was contingent on the necessary debt financing.<br>It is likely that an agreement between the two parties would remove that condition, a Reuters source familiar with the negotiations previously said, after Apollo Global Management and Sixth Street backed out of the agreement to help fund the buyout. <br>The two firms were not among the 18 equity investors named in a May  listing Musk's backers, but had previously been part of talks looking at providing about $1 billion in financing for the deal. <br>Those talks have now ended, sources familiar with the matter told Reuters on Wednesday.<br>           Chancellor Kathaleen McCormick said Wednesday that the trail remains on track until the parties reach an agreement<br>Musk has since said he would finance the deal with his own cash, co-investors and bank financing as historic inflation, rising interest rates and economic uncertainty caused by the war in Ukraine make such deals more costly for lenders.<br>When investor banks fund a leveraged buyout, they usually try to offload the debt to outside investors, like hedge funds or other large institutions.<br>The banks then make money from the fees they charge to arrange these deals, and they sell the debt to reduce their risks in case borrowers cannot repay.<br>But under the current economic situation, it is much more difficult for the banks to offload that debt — and doing so could lose them significant sums of money.  <br>It remains unclear what impact, if any, the withdrawal of Apollo and Sixth Street might have on the structure of the deal.<br>The $12.5 billion in debt financing from the banks is ironclad, according to the analyst Ives, who wrote that 'the banks are essentially cemented to this Twitter debt deal and we see no way out despite the very tough debt markets today.'<br>[https://www.deviantart.com/search?q=%27We%20continue 'We continue] to believe the deal gets done smoothly despite some late night [https://bit.ly/canli-poker-siteleri canlı poker siteleri] moves from the Twitter camp with the Delaware Court case around the corner,' he wrote in a note on Wednesday night. <br>   RELATED ARTICLES              <br><br><br><br>Share this article<br>Share<br><br><br>Meanwhile, Musk had sought to devalue the price of Twitter before he renewed his original offer on Monday.<br>reports that Musk had been privately pleading with Twitter to reduce the deal price by as much as 30 percent, valuing the company at $31 billion.<br>But Twitter executives refused the proposal, as well as another to cut the price tag by 10 percent, before Musk acquiesced.<br>As of Thursday, shares of the social media giant were valued at $51.11, up nearly 20 percent over the past five days. <br>         As of Thursday, shares of the social media giant were valued at $51.11, up nearly 20 percent over the past five days<br>       In court on Wednesday, Judge McCormick said that neither Twitter nor Musk have asked the court to put the case on hold.<br>McCormick ruled on motions regarding efforts by Twitter to get hold of messages, documents or depositions that could be used as trial evidence in Delaware's Chancery Court.<br>She said in her ruling that Musk's side had failed to provide Twitter with copies of all the messages he exchanged about the buyout deal, and 'likely' let some Slack messages be automatically deleted.<br>'If Defendants deleted documents after they were under a duty to preserve, some remedy is appropriate, but the appropriate remedy is unclear to me at this stage,' McCormick said in her ruling.<br>She added that she will reserve judgement on the matter until after the trial, when she has 'a fuller understanding of the record.'<br>The move follows many twists in the saga, after Musk signed an agreement to buy Twitter on April 25, but then tried furiously to back out of the deal citing the social media site's issues with fake accounts, before reversing his position again as the trial loomed. <br>Twitter's legal team and lawyers for Musk updated the judge on Tuesday with their attempts to try to overcome mutual distrust and find a process for closing the deal.<br>An attorney representing a proposed class action against Musk on behalf of Twitter shareholders wrote to McCormick to say Musk should be required to make a 'substantial deposit' in case he again reneges on his commitment to close. <br>Musk should also be liable for interest for delays in closing the deal, said the letter from attorney Michael Hanrahan. <br>         Twitter's legal team and lawyers for Musk updated the judge on Tuesday with their attempts to try to overcome mutual distrust and find a process for closing the deal<br>Musk said in July he was walking away from the takeover agreement because he discovered Twitter had allegedly misled him about the number of fake accounts, among other claims.<br>Part of Musk's case was based on allegations by Twitter whistleblower Peiter 'Mudge' Zatko that became public in August.<br>Twitter's legal team has wanted to investigate if Quinn Emanuel's lawyer Alex Spiro, who has led the case for Musk, communicated with the whistleblower as early as May.<br>Twitter lawyers were suspicious that Zatko sent an anonymous May 6 email to Spiro. <br>The sender claimed to be a former Twitter employee, offered information about the company and suggested communicating by alternate means.<br>Spiro said in a filing with the court on Wednesday he never read the email until Twitter brought it to his attention and it appeared to be someone seeking a job. <br>Spiro also said he was unaware of the existence of Zatko's allegations before they became public on August 23.<br><br><br><br><br>data-track-module="am-external-links^external-links"><br>Read more:<br><br><br><br><br><br><br><br>DM.later('bundle', function()<br>DM.has('external-source-links', 'externalLinkTracker');<br>);