Tesla vs Twitter As Elon Musk Pulls Out Of Merger, Lawsuit Expected
Twitter, Tesla, Trump
Tesla CEO and billionaire Elon Musk has pulled out of his $44 billion bid to buy Twitter due to the company failing to provide enough information on the number of fake accounts. Twitter is threatening to sue him to enforce the deal.
Meanwhile Twitter shares have plummeted and Donald Trump has weighed in on the matter.
Musk withdrew due to Twitter “failing or refusing” to give information on fake accounts that could potentially be spam which may affect the social media’s business and finances.
Officially this is seen as incomplete or unusable information.A massive legal battle may be ahead as instead of accepting Musk’s $1 billion break-up fee, Twitter has opted to take him to court and enforce the merger.
The clash of the Tesla and Twitter titans will take place in the Delaware Chancery Court. Last Friday, Twitter shares fell by 5% whilst ironically Tesla’s increased by 2.5%.
Former President Donald Trump posted “The Twitter Deal is Dead, Long Live The ‘Truth’” on social media, certainly a gloat following his ban from Twitter following the 2021 Capitol Riots.
Do you think the world is better off with Elon Musk owning Twitter or not?