Twitter is officially suing Elon Musk for not buying Twitter
Get ready for another drawn out legal battle.
Just a couple of days after former president Donald Trump called Elon Musk a “bullshit artist” for not buying Twitter, the major social platform has decided to sue the SpaceX and Tesla boss.
Twitter has brought forth a lawsuit in hopes of forcing Musk to go through with his acquisition deal. That deal would cost Musk a staggering $44 billion.
The news of the lawsuit comes from a recent report from The New York Times. The publication revealed the impending lawsuit against Musk after he declared that he no longer is interested in purchasing the social platform.
This ridiculous saga began just a few months ago after Elon Musk placed a $44 billion bid to purchase Twitter. Twitter accepted the bid a few weeks later, and it looked like the social platform was about to have a new leader.
“Twitter has extraordinary potential. I will unlock it,” said Elon Musk, in a letter to Twitter chairman Bret Taylor.
That is until Musk placed the acquisition on hold as he questioned the number of bot accounts that currently exist on the platform. The acquisition still looked promising, however, until Musk made the move to pull his offer completely.
And now Twitter is pissed at Musk. The platform filed its lawsuit earlier this week in an attempt to force Musk to go through with his acquisition.
From a business standpoint, we can understand why Twitter’s so upset. Twitter’s share prices have dropped drastically since this saga began, down to just $34 a share right now. That’s $20 less per share than the $54 that Musk had offered.
Still, this will likely be a lengthy court battle, and there’s a chance we don’t hear any more for a while. Court proceedings of this magnitude tend to take a long time to flesh out.
But it should be an interesting journey as the billionaire takes on one of the biggest social platforms in the world. Get your popcorn ready for the Elon Musk vs. Twitter showdown.
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