Twitter is not on the same page as Elon Musk when it comes to his new official attempt to back out of his proposed $44 billion acquisition of the company. The company released a brief official statement about Musk is trying to stop the mergerwhich relies on outstanding breederthe allegation that he was misled by Twitter about the extent of the bot problem when he made the deal.
A one-paragraph, two-sentence Twitter response read:
We are committed to closing the deal at the price and terms agreed with Mr. Musk and plan to take legal action to enforce the merger agreement. We are confident that we will win Delaware Chancery Court.
The statement almost exactly reflects tweet sent by Twitter Chairman and Salesforce co-CEO Bret Taylor, so it’s clear that Twitter’s approach was probably prearranged and ready for this moment. They will most likely spend the rest of their conversation either behind closed doors in a meeting room with Elon or on court papers in the Delaware Court of Chancery.
Musk seems intent on bringing up the bots issue and has brought it up numerous times up to this point, but it’s also possible that this is some sort of “public negotiation” as Twitter’s share price, and thus Twitter’s market value, has declined significantly since then. the billionaire announced his intention for the first time buy a social network in April.
Be sure to read more about Musk’s side in this story. Taylor’s articleand stay tuned for developments in this (unfortunately) never-ending saga.
Credit: techcrunch.com /