Twitter sues Elon Musk to force him to complete $44B acquisition

Delaware Court of Chancery to enforce the $44 billion buyout of the social media company. Elon Musk had proposed the acquisition just three months ago; but backed away from it last Friday,Musk began acquiring Twitter stock starting January this year as a prolific user of the platform. Later in April, when his holdings reached a little over nine percent, Musk made one and final offer at $44 billion to wholly acquire the company to"unlock its true potential".

At that time, Musk was offering the company a 38 percent premium on its stock price, which the board accepted after some deliberations and signed an agreement to this effect with Musk. However, during the period the company was expected to go through the formalities of the takeover, Musk announced that theIn the lawsuit filed on Tuesday, Twitter had accused Musk of hypocrisy and bad faith in breaching his contract,.

The lawsuit also says that the market downturn has also resulted in a decline in the valuation of Tesla stock, Musk's main source of wealth. Musk was making outlandish requests for information publicly to make Twitter look like it was being negligent. explaining why fighting fake/spam accounts was difficult on the platform, to which Musk responded with a poop emoji.According to Ars Technica, Twitter did provide Musk access with a tool that would allow him to verify the fake account numbers.

Twitter then approached the famous law firm, Wachtell, Lipton, Rosen & Katz, who have previously represented Musk and Tesla, to file their lawsuit in the court of Delaware and enforce the buyout. To this, Musk responded with this tweet.

...this is a big bullshit ...is like you force some random guy from street to buy your car only because he look on your cars..you own a car dealer showroom

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Twitter sues Musk to force him to complete $44B acquisitionTwitter said Tuesday it has sued Elon Musk to force him to complete the $44 billion acquisition of the social media company.
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Twitter sues to force Elon Musk to complete his $44B acquisitionThe chair of Twitter's board tweeted Tuesday that the board has filed a lawsuit in the Delaware Court of Chancery 'to hold Elon Musk accountable to his contractual obligations.' Hahaha. Elon musk has an infinite amount of resources to bury twitter in court. Short of twitter being able to prove they didn’t slack with providing him ALL the bot info he requested, they don’t stand a chance. Twitter is devalued and all those execs lost millions of $$$ 😂😂😂 Musk played them like a fiddle! Poll: Is Elon Musk a mess?
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Twitter sues to force Musk to complete his $44B acquisition of the platformBREAKING: Twitter said Tuesday it has sued Elon Musk to force him to complete the $44 billion acquisition of the social media company. If he didn’t actually want to buy them he shouldn’t have signed the papers saying he did It’s one thing to be the richest man on this planet now but beware of reckless behavior and utterances that might hurt your brand. Elon is smart no doubt but he needs to chill a little bit. Dear Twitter… Your arms are too short to box with God! xoxo… fondly, THE BIG E!😝
Source: CBSNews - 🏆 87. / 68 Read more »