A new twist in the Trump Truth Social merger

📆 3-10-2023 20:05:00
📰 cnni

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The long-delayed and highly controversial deal to bring Truth Social and the Trump media empire to Wall Street has a new twist – the merger could get terminated by either party.

Under an updated merger agreement, both parties in the deal will have the opportunity to kill the merger between October 31 and November 21, according to a regulatory filing on Monday. Digital World Acquisition Company, the firm that’s been trying for two years to buy Trump Media & Technology Group, can terminate the deal if, after “updated due diligence, its board of directors no longer believes it’s in the best interest of the firm or its shareholders,” the filing said.

Donald Trump himself has encountered intense legal problems since the SPAC deal was first announced, including multiple indictments. The revised merger agreement was announced Monday, as Trump was in court for the first day of the civil fraud trial against the former president, his eldest sons, their companies and Trump Organization executives.

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Nederland Laatste Nieuws, Nederland Headlines

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