After months of trying to get out of a $44 billion deal to acquire the social network. Twitter, Elon Musk informed his management earlier this week that he really wanted to buy it, as they originally agreed on the terms. However, investors, as bloombergthey don’t seem particularly excited by the events. And the reason is simple: the already multifaceted billionaire and creator of the Tesla car company will take on even more work, and this fragmentation of him is one of the reasons why its value in the stock market has declined. Since it announced its intention to buy Twitter in April of this year, Tesla’s value from 1.18 trillion. dollars then fell to 780 billion dollars. On top of that, there is little in common between accelerating Tesla’s transition to sustainable energy and fighting for free speech and reducing hacked Twitter accounts. Another major concern for mogul Elon Musk is his upcoming trial on October 17, which will see him appear before Twitter executives for violating the agreement. Both sides are gearing up for one of the biggest business clashes of the century, according to news site DealBook.

Twitter’s lawsuit against Musk will be heard on October 17 – The role of banks financing the deal.

According to him, on Monday, the leadership of the social network received a corresponding letter from Musk’s lawyers and on Tuesday transferred it to the Delaware court of first instance, which is considering the case in their lawsuit. At an emergency confidential hearing, the judge ordered both parties to analyze the events and return to her. Twitter maintains its reservations about dropping the litigation and is considering some alternatives to its talks with Musk, such as going to court to oversee the closing of the deal.

However, according to DealBook, it is not yet known why Musk changed his mind and returned to acquiring Twitter. That he didn’t want his friends and colleagues in Silicon Valley and Wall Street to get more publicity when he took to Twitter? That Twitter was very confident in the chances of a favorable outcome in Delaware? Did Elon Musk hope that the financing banks would turn their backs on him? After all, if the bank group doesn’t merge, the billionaire will simply pay $1 billion. Of course, financial institutions have already pledged $12.5 billion, provided that the process is completed by April next year. Can Twitter stop Elon Musk from using banks as leverage to get out? One solution would be to ask the court to condition the banks on a written commitment to support the deal, as well as remind Musk himself of his letter, where he states that he is not aware of any reasons preventing the completion of the deal. translation. In conclusion, though, the lending market, which Musk partly relies on, has weakened recently, making banks reluctant to take on new risks.