The U.S. Securities and Exchange Commission (SEC) has granted Elon Musk additional time to respond to a settlement offer regarding an inquiry into his acquisition of Twitter for $44 billion in 2022, Reuters reported on Friday, citing a source familiar with the matter.
Initially, Musk was given a 48-hour deadline to agree to pay a penalty or face charges, as indicated by a letter from his lawyer posted on Twitter on Thursday.
The SEC initially sent Musk a settlement offer on Tuesday, specifying that timeline. However, after a request for additional time, the deadline has been extended to Monday, the report added.
An SEC spokesperson and Musk's lawyer did not respond immediately to calls for comment to Reuters.
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