Musk Moves to Halt Twitter Legal Battle, Sees Deal Closing by Oct. 28 By

By Yasin Ebrahim

Fxgecko.com -- Elon Musk asked a court to pause Twitter's lawsuit against him as he looks to wrap up the deal on or around Oct.28, though progress has stalled as completion of the deal depends on whether the billionaire can secure $13 billion in debt financing. 

Twitter Inc (NYSE:TWTR) was down more than 1%, while Tesla Inc (NASDAQ:TSLA) was 0.3% lower.

Musk asked a Delaware judge to pause legal action against him from Twitter, according to a court filing. The Tesla chief executive's legal team said that Twitter was refusing to "take yes for an answer," and its willingness to proceed with legal action was "recklessly putting the deal at risk."

Twitter filed the lawsuit earlier this year after Musk attempted to back away from the deal to acquire the company, citing worries about fake accounts on the social media platform. Ahead of the Oct. 17 court date, however, Musk proposed to resume the $54.20 deal on its original terms, though he said that the offer was now contingent on securing $13 billion in debt financing.

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