Twitter is just not on the identical web page as Elon Musk on the subject of his newly official try to again out of his proposed $44 billion acquisition of the corporate. The corporate issued a short formal assertion relating to Musk’s merger termination try, which depends on the prodigious breeder‘s assertion that Twitter misled him concerning the extent of its bot downside when he entered into the deal.
Twitter’s single paragraph, two sentence response learn as follows:
We’re dedicated to closing the transaction on the value and phrases agreed upon with Mr. Musk and plan to pursue authorized motion to implement the merger settlement. We’re assured we are going to prevail within the Delaware Court docket of Chancery.
The assertion just about precisely mirrors a tweet sent out by Twitter board chair and Salesforce co-CEO Bret Taylor, so it’s clear the method is one Twitter seemingly ready upfront and had prepared for this second. They’ll in all probability do the remainder of their speaking both behind closed doorways in a negotiating room with Elon or in court docket filings with the Delaware Court docket of Chancery.
Musk appears to be intent on urgent the bots subject and has repeatedly introduced it up before now, however it’s additionally attainable that is some number of “negotiating in public,” for the reason that share value and due to this fact market worth of Twitter has declined significantly for the reason that billionaire first introduced his intent to amass the social community in April.
You’ll want to learn extra about Musk’s facet of the story in Taylor’s article, and keep tuned for extra developments on this (sadly) unending saga.