How Delay in Twitter Trial Could Benefit Elon Musk
Delaware Chancery Court Judge Kathaleen McCormick on Thursday stayed the legal battle between Elon Musk and Twitter Inc. until Oct. 28 to allow the two parties to close the deal.
Delving on the development, Future Fund analyst Gary Black suggested the deferral was to Musk’s advantage. The postponement of the trial date gives Musk more time to get the financing together, Black said.
Financial companies, including big Wall Street banks, are under pressure amid market uncertainties precipitated by a rising rate environment. Yields on bonds have shot up, creating distress in the credit market, which, in turn, has made it difficult for banks that have promised debt financing to resell the debt….