Twitter disagrees with Elon Musk when it comes to his official new attempt to back down from his proposed $44 billion acquisition of the company. The company has released a brief official statement about Musk’s Attempt to End Consolidationbased on extraordinary breederTwitter’s confirmation that Twitter misled him about the extent of its bot problem when he entered into the deal.
Twitter’s single paragraph, two-sentence response reads as follows:
We are committed to closing the transaction at the price and terms agreed with Mr. Musk and plan to pursue legal action to enforce the merger agreement. We are confident that we will prevail in Delaware Chancery Court.
The statement reflects quite accurately a tweet sent by Twitter board chairman and Salesforce co-CEO, Bret Taylor, so obviously the approach is that a Twitter can be prepped and ready for the moment. They will likely conduct the rest of the conversation behind closed doors in the negotiating room with Elon or in court filings with the Court of Chancery Delaware.
Musk seems intent on solving the bot problem and has raised it many times before, but it’s also possible that this is some sort of “public bargaining,” because of the stock price and therefore the market value. of Twitter has dropped dramatically since the billionaire first announced his intentions social network acquisition in April.
Be sure to read more about Musk’s side of the story in Article by Taylorand stay tuned for more developments in this (unfortunately) never-ending story.
