According to a new court filing by Musk's lawyers, negotiations over Musk's renewed offer to buy the company haven't been going well and he would like to just call this trial off, thanks.
In an SEC filing this week, Musk offered to pay 54.20 per share in order to avoid a legal fight. The deposition of the founder of the electric car company was supposed to begin today, but he was forced to delay it because of the fight with the social network.
The company said earlier this week that it would close the deal at the original price, but didn't say if it would accept Musk's new offer. The proposal still amounts to the same amount of money as was agreed upon, but it includes some new conditions, according to a report. The deal is said to be contingent on Musk's ability to raise all the money. He didn't say that the first time.
According to today's court filing, Musk's team still plans to proceed with the trial which is set to begin on October 17th.
The trial should be taken off the calendar because Musk needs a little time to get financing for the deal.
An attorney for Musk said in a court filing that the deal was put at risk and gambled with by the company.
According to a report from CNN, Sean Edgett sent a message to the site's employees that said the company plans to close the deal. Thank you for your patience as we work through this on the legal side, the lawyer wrote.
It's not likely that the tech company will reject the deal completely, but it has plenty of leverage to make Musk stick to the original deal. The social media giant did not respond to a request for comment, but told the New York Times that the filing was just an invitation to further delay.
The full court motion can be found below.
The trial can be delayed until October 28th while the two parties work out their differences.
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