Billionaire tech-entrepreneur Elon Musk has moved out of the deal to buy Twitter. The Tesla chief ended a worldwide response to a $ 4.4 billion deal to buy Twitter, citing multiple misrepresentations, including misleading Twitter statements about the number of fake accounts.
However, the Twitter authorities did not agree to release Mask unchallenged. Brett Taylor, chairman of the company said that, their board was confident suing to force Musk to abide by his agreement.
The Twitter Board is committed to closing the transaction on the price and terms agreed upon with Mr. Musk and plans to pursue legal action to enforce the merger agreement. We are confident we will prevail in the Delaware Court of Chancery.
— Bret Taylor (@btaylor) July 8, 2022
According to the report, the terms of the agreement with Twitter were that, if for some reason the company cancels the purchase agreement or does not complete the financial transaction, the Twitter authorities will be paid one billion US dollars by the chief executive of US electric car maker Tesla Inc. and head of SpaceX.
