What's next in Musk's battle with Twitter after billionaire's latest offer?
Elon Musk's monthslong tussle with Twitter took another twist Tuesday when the Tesla billionaire seemed to return to where he started in April — offering to buy the company for US$44 billion.
But it's not over yet. Twitter says it intends to close the deal at the agreed-upon price, but the two sides are still booked for an Oct. 17 trial in Delaware over Musk's earlier attempts to terminate the deal.
DOES ELON MUSK OWN TWITTER YET?
No, he doesn't own Twitter and it's still not clear if or when he would take it over. What happened this week is that his lawyer sent a letter to Twitter saying Musk will complete the deal as long as he lines up the promised debt financing and provided that the Delaware Chancery Court drops Twitter's lawsuit against him. But Twitter is unlikely to give up on its legal proceedings unless it confirms that the deal is for real this time and not a tactical gambit.
WHAT HAPPENS NEXT?
The judge presiding over the Delaware case hasn't yet publicly weighed in on Musk's new proposal, but what she says could determine the next steps.
Twitter's deposition of Musk — set to begin Thursday — and even the Oct. 17 trial itself could still go forward if Twitter isn’t assured that the deal is closing, said Ann Lipton, an associate law professor at Tulane University.
“Twitter is not going to let that proceeding stop until it gets that 100 per cent reassurance,” she said.
But if the deal does go through, Lipton said Musk could be in charge of Twitter in a matter of days — however long it takes him and his co-investors to line up the cash.
Recent homebuyers with variable-rate mortgages will find the adjustment to higher interest rates more painful, said Bank of Canada senior deputy governor Carolyn Rogers.
Buying your first car can be as exciting as it is daunting. Whether you’re buying a car off the lot from a dealership or purchasing a car in a private sale, contributor Christopher Liew shares in an exclusive column for CTVNews.ca a few basic tips that you should always keep in mind.
In March 2022 alone, food banks across Canada had 1.5 million visits, a 15 per cent increase from the year prior and the highest recorded usage on record.
Many Canadians have one or two old credit cards that they no longer use. Before you jump to close your old, unused credit card, CTVNews.ca contributor Christopher Liew outlines some of the pros and cons of closing a credit card account, so you can make the most informed decision.
Canadians are buying less expensive food, stockpiling food and even eating less to cope with food prices as inflation soars, according to a new survey.
Most Canadian seniors would prefer to stay in their homes for as long as possible, what is referred to as aging in place, rather than in an assisted living facility, according to recent studies that have come out this year. Personal finance contributor Christopher Liew shares some practical tips on how to age in place, so you can continue living life on your terms.
With the holidays approaching, financial expert Robyn Thompson advises that now is the time to use old gift cards as rising inflation affects their purchasing power.
With many popular vacation destinations open to Canadians again since travel restrictions were dropped earlier this year, a travel expert advises those looking to book a winter trip to start booking now. Read Loren Christie’s tips on CTVNews.ca