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

  • 📰 CP24
  • ⏱ Reading Time:
  • 43 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 67%

United States News News

United States United States Latest News,United States United States Headlines

Twitter sued Tesla CEO Elon Musk on Tuesday to force him to complete the $44 billion acquisition of the social media company.

Musk and Twitter have been bracing for a legal fight since the billionaire said Friday he was backing off of his April agreement to buy the company.

Twitter filed its lawsuit in the Delaware Court of Chancery, which frequently handles business disputes among the many corporations, including Twitter, that are incorporated there. Twitter’s suit repeatedly emphasizes Musk’s contemplation of starting a Twitter competitor -- an alternative option he sometimes aired publicly and sometimes privately to Twitter’s executives and board members. While the company has said it cooperated in providing the spam bot data he requested, the lawsuit suggests there was concern that disclosing too much “highly sensitive information” could expose Twitter to competitive harm if shared.

But his confidence didn’t last long. Tesla’s stock — Musk’s primary source of wealth — plummeted amid a broader stock market selloff in May, and Musk soon seemed less enthusiastic about owning Twitter.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

They will settle for a 10% reduction in purchase price

Discovery maybe very uncomfortable for Twitter having to provide all the information they didn't want to provide to Musk.

Because they know nobody else wants it!

When Elon first said it the liberals freaked out and didn’t want this to happen, liberals swore they would never use this platform and cried about free speech, NOW when he wants to back out the liberals are going nuts saying he has to buy it, what a shit show with them liberals😂

You can’t force anyone to buy anything in a free country.

This will be interesting to see the bot info come out in disclosure.

If he buys Twitter, it will be at a much lower price. They didn’t give him all the information he asked for. This will go no where.

Can you spare a dollar for a cup of coffee

Intelligent but eccentric. Made a wrong fickle decision to buy twitter. Forcing him to buy twitter is morally wrong, if he leaves it , just leave him to his eccentricities.

Playing right into his hands. He's a very clever man.

😂

Poll: Did Elon buy mostly bots and burners?

His carts a little different.

Poll: Is Elon Musk a mess?

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 30. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Twitter accuses Elon Musk of ‘knowingly’ breaching agreement to buy the social media companyIn a letter sent to Elon Musk, Twitter said it had not breached its obligations under the merger agreement as indicated by Musk on Friday for looking to end the deal Knowling that Twitter ain’t worth 44billion Liberal rage. FSW/CEC in 470s are facing tremendous pressure,when will draw resume at Such a pace they would get an ITA?As with 557CRS and 1500 invitations which include 700PNP nominations, it's impossible to get invitations 😑😒 SeanFraserMP IELTS EXPIRING, LOSING AGE POINTS CitImmCanada
Source: globeandmail - 🏆 5. / 92 Read more »