Not long ago, in April, Elon Musk planned to acquire the social network Twitter. The billionaire wanted to buy Twitter for $44 billion.
But now Elon has decided to terminate the agreement. One of the main reasons for this decision was the large number of spam bots on the social network. Although Twitter claims that the number of such bots does not exceed five percent of the total number of users, Elon Musk is sure of another thing. The entrepreneur believes that there are many more spam bots and demands that the company provide real data on this topic.
After everything that happened, Twitter wants to sue Elon Musk.
Twitter’s board intends to close the deal at the price and terms agreed with Musk, and plans to go to court to enforce the merger agreement. We are confident that we will win in the Delaware Court of Chancery.
Bret Taylor, president of Twitter
In case the transaction is declared null, the party that violated the agreement will be obliged to pay one billion dollars.
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Source: IXBT
