The founder of Tesla and SpaceX, Elon Musk, thwarted the $44 billion acquisition of Twitter. He explained his decision as “a material violation of several points of the agreement.”
In April 2022, Musk offered to buy Twitter for $44 billion, or $54.20 per share. Twitter’s board of directors agreed to accept the offer, but the deal has since hung in the air – Muscu suspended the acquisition of the social network, saying that the platform underestimates the number of fake accounts in the reports and decided to independently study the issue.
Musk said today that the company failed to meet its contractual obligations and that he was not provided with the relevant business information he requested.
In response, Twitter chairman Bret Taylor declaredthat the platform’s board is “committed to closing the deal” and plans to take legal action to enforce the agreement.
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The post Elon Musk changed his mind about buying Twitter. The board of the company wants to put pressure on him through the courts so that the deal goes through appeared first on Gamingsym.