Sharjah24 - AFP: Elon Musk appears to be on track to fulfill a deadline on Friday to finalize his on-again, off-again acquisition of Twitter, averting a court battle over the $44 billion agreement, which he admits is excessively priced.
Twitter filed a lawsuit to enforce Musk's commitment to the contract he signed in April to buy the dominant social media platform after he sought to cancel the deal.
The erratic billionaire gave in and resumed his takeover scheme as a trial approached.
By changing his Twitter handle to "Chief Twit" and broadcasting a video of himself entering the company's California offices while holding a sink, Musk indicated the deal was on track on Wednesday.
Let that really sink in, he joked.
Adam Badawi, a law professor at the University of California, Berkeley, predicted to AFP that Twitter would be acquired by Elon Musk on Friday.
Since Delaware Judge Kathaleen McCormick halted suit on October 6, Musk, the richest man in the world, has apparently been securing funding.
The judge will probably "bring the hammer down" and move rapidly to trial if the buyout doesn't happen by the end of the business day, Badawi warned.
After his unsolicited offer was approved, Musk attempted to back out of the Twitter arrangement. In July, he announced the cancellation of the agreement, claiming that Twitter had deceived him about the amount of phony "bot" accounts. Twitter has denied the claims.
Twitter responded by attempting to show that Tesla's CEO Elon Musk was inventing justifications to leave because he had changed his mind.
Musk expressed his excitement on the Twitter scenario during a recent Tesla earnings call.
Although I and the other investors are clearly overpaying for Twitter at the moment, I believe it to be an asset that has long lain dormant but has enormous potential.
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