On Tuesday, July 12, Twitter formally sued billionaire Elon Musk for violating the contract to buy the social network for $44,000 million.
The lawsuit was filed in the state of Delaware. Court orders Musk complete Twitter buyout dealarguing that no economic compensation can repair the damage done to the company.
“Musk’s behavior confirms that he wanted to evade the binding contract he freely signed and harm Twitter in the process,” the company said in the lawsuit.
Shares of the social network plunged 6.6 percent after Musk made public his intention to cancel the purchase, citing breaches of certain agreements. This is how it is shares of the company were $34.40 (155,000 Colombian pesos) at the ho exchange rate.Y). It’s $54.20 (244,000 Colombian pesos) per share, much lower than what Taylor initially agreed with Musk.
(You can read: Pilot tests of the Digital Centers in Boyacá begin in Savoy).
Even analysts at MKM Partners said shares could drop as low as $24 if investors decide the takeover will never happen. That’s a 30 percent drop from Tuesday’s close of $34.06.
“We still think there will be a possible scenario where a reasonable agreement can be reached between the parties to complete the deal,” said Jean-Francois Comte, managing partner at merger arbitration firm Lutetia Capital.
Comte, who has a small position on Twitter, said, “The discount can vary between 3 percent and 20 percent,” according to the results of similar situations in the past.
(
Elon Musk will bring satellite services to Colombian regions
How did Apple respond to the ban on selling iPhone and iPad 5G in Colombia?
‘Continue selling orders’: Apple merchants
Writing Technology
Source: Exame
