Elon Musk agrees to $44 billion U-turn – billionaire’s next steps | City & Business | Finance

The notice filed by his lawyers stipulates that the transaction will only continue if the Delaware County Court enter an “immediate stay of the action” in an upcoming suit against Mr Musk.

Twitter launched a legal battle with Mr Musk after he initially backed out in July, intending to force the deal’s completion.

Delaware’s court of chancery denied an early bid by the Musk team to delay the trial that month, ruling in Twitter’s favour that prolonging the action would threaten “irreparable harm”.

Mr Musk was due to appear for questioning under oath between October 6 and 7 as both parties prepared for the trial due on October 17.