A tentative agreement agreed earlier this week for Tesla and SpaceX CEO Elon Musk to acquire Twitter has allegedly stalled, with Musk’s attorneys stating Twitter has rejected the offer.
The announcement comes only two days after Musk and Twitter revealed plans to “close the transaction” at the $44 billion price originally scheduled for April 2022.
Twitter eventually sued Musk to compel him to comply with the terms of the first agreement, after Musk repeatedly sought to evade it, but Musk’s attorneys have requested that the October 17 trial be stopped, according to a filing by Musk’s attorneys.
“Twitter will not take yes for an answer,” the filing reads. “Astonishingly, they have insisted on proceeding with this litigation, recklessly putting the deal at risk and gambling with their stockholders’ interests.”
According to the WSJ, lawyers for both Musk and Twitter were working on the specifics of the agreement as recently as Thursday morning.
According to an unnamed person familiar with the situation cited by the WSJ, the communication between the two parties had the potential to “change quickly” as both sides sought to delay the intended trial to allow for more time to negotiate a settlement.
According to The Wall Street Journal, Twitter stock soared when the tentative agreement was disclosed earlier this week, resulting in large profits for certain investors.
Twitter and Musk’s attorneys did not immediately reply to a request for comment from the Daily Caller News Foundation.