Mashable: The Delaware court has given Tesla CEO Elon Musk and Twitter CEO Jack Dorsey until October 28 to finalize the $44 billion agreement.

According to a report by Bloomberg News on Tuesday, Twitter has frozen employee stock award accounts in the hopes that its transaction with Elon Musk will be consummated before the contract's deadline.

The Twitter stock rose 1.8% after the revelation but is still below Musk's bid price of $54.2 per share. The Delaware court has given Tesla CEO Elon Musk and Twitter until October 28 to finalize the $44 billion agreement. In April, the agreement was originally reported.

According to the report, the social media giant modified its employee FAQ website this week to inform workers that they would no longer have access to the Equity Award Center or be able to transact business with their already acquired shares.

The page said that the change was made "in anticipation of the closing of the pending acquisition of Twitter by an entity controlled by Elon Musk," the report said, citing two people who knew about the change.

In May, Musk sought to back out of the agreement by suing Twitter, claiming the company had exaggerated the number of spam and bogus accounts on its platform.

The trial that was slated to begin this week was postponed after Musk abruptly changed his mind earlier this month and indicated he will move forward with the agreement on the original conditions.