Twitter to depose Elon Musk in takeover tug-of-war
Twitter will question Elon Musk under oath in Delaware next week as part of the litigation in the billionaire’s bid to walk away from his $44bn deal for the social media company.
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A Tuesday filing in Delaware’s court of chancery said Musk’s deposition is scheduled for 26-27 September and may stretch into 28 September if necessary.
The two sides are locked in an increasingly acrimonious legal battle that has swept up some of the biggest names in Silicon Valley and Wall Street.
Subpoenas have been issued to billionaire Larry Ellison, the co-founder of Oracle Corp, Intel Corp’s former chief executive officer Robert Swan and Twitter co-founder Jack Dorsey, who is currently chief executive of Block. Dorsey was set to be deposed by Musk’s legal team on Tuesday morning.
A five-day trial is scheduled to begin on 17 October in Wilmington, Delaware.
Each side has accused the other of breaking the April takeover agreement. Twitter wants a judge to order Musk, who is chief executive of Tesla and the world’s richest person, to buy the company as agreed for $54.20 per share.
Shares of the San Francisco-based company were down slightly in early Tuesday trading at $41.54.