Billionaire Elon Musk has decided to terminate the deal to acquire the social network Twitter.
Twitter will sue the head of Tesla and SpaceX, American businessman Elon Musk, who refused to buy the social network. About this on Friday, July 8, reported in a tweet from company chairman Bret Taylor.
According to him, Twitter intended to get Musk to buy the social network.
“Twitter’s board of directors intends to close the deal on the price and terms agreed with Mr. Musk and plans to take legal action to enforce the merger agreement. We are confident we will win in the Delaware Court of Chancery, Taylor tweeted.
The other day, Musk said he decided to leave the deal, believing Twitter underestimated the number of fake and spam accounts. in particular, Elon Musk expressed doubts about the reliability of the data published in the company report. The billionaire is confused by the number of bots voiced here. According to internal statistics, they are less than 5%.
According to the conditions, the businessman must pay a fine in the amount of 1 billion dollars. if it does not happen.
Elon Musk will buy the social network for $ 44 billion.
Recall, Skadden Arps attorney Mike Ringler said “Twitter has not fulfilled its contractual obligations.”
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Source: korrespondent
I am Dylan Hudson, a dedicated and experienced journalist in the news industry. I have been working for Buna Times, as an author since 2018. My expertise lies in covering sports sections of the website and providing readers with reliable information on current sporting events.