Musk lawyers say Twitter is spurning new bid for company

Elon Musks lawyers have said that Twitter is refusing to accept the Tesla billionaires renewed 44 billion bid for the social media company and are asking a Delaware court to halt an upcoming trialMusk made a renewed offer to take over the social media platform earlier this week hoping to end a protracted legal dispute that began when Elon Musk tried to back out of the April deal and Twitter suedRepresentatives for Twitter did not immediately respond to messages for commentTwitter said earlier this week that it intends to close the deal at the agreedupon price but the two sides are still booked for an Oct 17 trial in Delaware over Musks earlier attempts to terminate the deal On Wednesday the judge presiding over the case said she will continue to press on toward the trial because at the time neither side had formally moved to stop itAlso Read Govt sets up tribunal to adjudicate PFIs ban justified or notMusks attorneys Thursday said the trial should be adjourned to leave more time for Musk to secure the financingTwitter will not take yes for an answer said the court filing signed by Musk attorney Edward Micheletti Astonishingly they have insisted on proceeding with this litigation recklessly putting the deal at risk and gambling with their stockholders interestsSince Twitter sued Musk to force him to complete the purchase after he tried to back out four months ago it is unlikely the San Franciscobased company whose shareholders have voted to approve the deal will walk away from the agreementRather its likely Twitter is seeking assurances from Musks side that this time hes serious and wont walk away againEric Talley a Columbia University law professor tweeted Thursday that Twitter is absolutely right not to take yes for an answer and everyone knows why They tried that in April and it didnt go so well He added that Twitter would however take a certified bank transfer from MuskMusk attorneys argue that Twitter is disagreeing with the trial delay based on the theoretical possibility of Musk not coming up with the financing which they call baseless speculationThey said Musks financial backers have indicated that they are prepared to honour their commitments and are working to close the deal by Oct 28 roughly a week after the trial was set to concludeTwitters shares fell 191 or 3737 to close at 4939 on Thursday It was the stocks second day of declines following a surge of more than 2237 on Tuesday after Musk made his renewed offer to buy the companyThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever