Elon Musk is looking for an excuse to abandon his Twitter acquisition plans, but Twitter is determined to send Musk the $43.4 billion bill.
Elon Musk plans to back out of the Twitter acquisition, but Twitter doesn’t seem to have much of an intention to do so. Musk, who previously stated that he could abandon this purchase because of Twitter bot accounts, this time gave the price he paid per share for Twitter as the reason. In the letter sent to Twitter by Musk’s lawyers, it was stated that the amount Musk must pay per Twitter share has decreased significantly since April.
Elon Musk isn’t as enthusiastic about his Twitter buyout as he used to be
It is stated that Musk, who first claimed that Twitter did not take enough action on bot accounts, and then suggested share prices, was not as enthusiastic about this purchase as before and was looking for an excuse to get rid of the event. Although the cancellation fee is $ 1 million, Twitter is preparing to go to court for Musk to complete this purchase and pay approximately $ 44 billion.
Twitter CEO Bret Taylor used the following statements on the subject:
“Twitter’s board of directors is determined to complete the deal with Mr. Musk on the terms and price agreed. And is ready to take legal action to complete this contract.” In other words, Twitter will go to court if necessary to get the money Musk promised in the first place.