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In its lawsuit, Twitter effectively set $44 billion as the ceiling in negotiating with Musk. They’re just trying to get as many billions of dollars as they can, as quickly as they can,” says Scott Kessler, analyst at financial research firm Third Bridge. “I don’t think Twitter actually is looking to get sold. Twitter is widely seen as having the legal upper hand against the meme-loving mega-billionaire. Both parties have an incentive to reach an out-of-court settlement and avoid a time-consuming, costly and embarrassing sideshow.
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#At long last asap vinyl trial
The trial is set to take place in October - but analysts believe there’s a good chance Twitter v. Last week, the Delaware Court of Chancery, which specializes in such business disputes, ruled in Twitter’s favor, rejecting Musk’s attempt to delay the start of the case until next year. Musk has “repeatedly disparaged Twitter and the deal, creating business risk for Twitter and downward pressure on its share price,” the company says in the suit. Twitter’s lawyers say Musk simply has buyer’s remorse - after a sharp drop in the price of Tesla stock, which represents the majority of his net worth - and has acted in bad faith. It sued Musk, demanding that the world’s richest person fork over the $44 billion he promised.