Lawyers for Twitter issued a sharp response to Musk’s filing. “Counsel for the debt financing parties has advised that each of their clients is prepared to honor its obligations,” Musk’s filing states. The filing asks the court to stay the proceedings and order Twitter to complete the deal. “Proceeding toward trial is not only an enormous waste of party and judicial resources, it will undermine the ability of the parties to close the transaction,” the filing states. As of Wednesday, the two sides had yet to reach a deal to close the acquisition, a separate source told CNN.

Source: CNN October 06, 2022 20:37 UTC