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Twitter sues Elon Musk for $44 billion - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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Twitter is suing billionaire Elon Musk for violating an agreement to purchase the social media company for $44 billion and has asked a Chancery Court in the State of Delaware to order the completion of the deal. ElonMusk Twitter

Musk offered to buy Twitter at $54.20 per share – well above Twitter’s current share price of around $34.

Musk’s lawyers said that he was terminating the deal because Twitter violated the agreement by failing to account accurately for the number of spam accounts on the platform – something Twitter rejects.Managing director of investment company, Wedbush Securities, Dan Ives called the deal a soap opera from the start.

Twitter filing their lawsuit on a day SpaceX’s latest Starship booster test experienced an explosion at their Starbase facility in Texas and while Musk is engaged in a social media spat with former President Donald Trump; in short Elon Musk has a lot on his plate and is the centre of a lot of high-stakes back and forth on a variety of topics.

 

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