Elon Musk could close Twitter deal by Oct. 28

A Delaware judge on Thursday ordered a stay of Twitter Inc's lawsuit against Elon Musk on the day before the trial, giving the billionaire an opportunity to fund his $44 billion takeover of the social media platform.

The judge's order states that if Musk fails to close the case by the Oct. 28 deadline of 5 p.m. Summer North American Eastern Time, the judge will schedule the trial for November.

Twitter said in a statement that it expects to close the deal by Oct. 28 at $54.20 a share. 

Randy Frederick, managing director of trading and derivatives at Schwab Center, shared that there is still uncertainty at this point about whether Musk can find real financing for the deal.

Musk has made $15.4 billion this year by selling Tesla stock and is relying on big investors to get some of the financing, which has led to rumors about whether he will sell more stock in the electric car maker to fund the deal.

Robert Gilliland, managing director of Concenture Wealth Management, said the deal will be financed in one form or another, now it's just a matter of agreeing on the terms of the deal.