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Elon Musk just pulled the plug on the $44 Billion Twitter Deal


Elon Musk is finally pulling the plug on the $44 billion deal to buy Twitter as Elon Musk’s lawyer said that Tesla “Technoking” is now wishing to terminate the agreement because of false and misleading representations made by the company about their user statistics. According to a statement from the Twitter board of directors, They intend to close this transaction and they are willing to take legal action against Elon Musk “We are now committed to closing the transaction On the price and terms agreed upon with Mr. Musk and planned to pursue legal action to enforce the merger agreement. We are confident we will prevail in the Delaware Court of Chancery.”

Twtter HQ | Img via (costar.com)

Twitter and Elon Musk have been squabbling for months over how the social media network counts the number of bots and fake accounts on the platform according to a letter filed with the SEC, Elon Musk’s lawyer states that Twitter has both withheld information and misled Elon Musk about the true numbers of how many real users are actually on the platform. Twitter has stated that fake accounts make up less than 5% of their daily total users as they turned over some of their internal firehose of data to Elon Musk to bolster those claims. But this additional data has not been enough to appease Elon Musk, who has continued to challenge the official estimates.

According to a Twitter spokesperson who referred to the statement from the company’s board of directors, they said that the company would take legal action to force the deal to close. It’s still not clear what’s going to happen next, but it seems like Elon Musk and Twitter are headed towards a very lengthy legal battle. This news is really sad for Twitter, as the company already lost a lot of money on its market cap, which was halted because of its hiring and layoffs. This will also be causing a lot of anxiety among the employees at Twitter, who have already been a lot worried about their future as Elon Musk’s company.

Elon Musk just pulled the plug on the  Billion Twitter Deal

Elon Musk just pulled the plug on the $44 Billion Twitter Deal


Elon Musk is finally pulling the plug on the $44 billion deal to buy Twitter as Elon Musk’s lawyer said that Tesla “Technoking” is now wishing to terminate the agreement because of false and misleading representations made by the company about their user statistics. According to a statement from the Twitter board of directors, They intend to close this transaction and they are willing to take legal action against Elon Musk “We are now committed to closing the transaction On the price and terms agreed upon with Mr. Musk and planned to pursue legal action to enforce the merger agreement. We are confident we will prevail in the Delaware Court of Chancery.”

Twtter HQ | Img via (costar.com)

Twitter and Elon Musk have been squabbling for months over how the social media network counts the number of bots and fake accounts on the platform according to a letter filed with the SEC, Elon Musk’s lawyer states that Twitter has both withheld information and misled Elon Musk about the true numbers of how many real users are actually on the platform. Twitter has stated that fake accounts make up less than 5% of their daily total users as they turned over some of their internal firehose of data to Elon Musk to bolster those claims. But this additional data has not been enough to appease Elon Musk, who has continued to challenge the official estimates.

According to a Twitter spokesperson who referred to the statement from the company’s board of directors, they said that the company would take legal action to force the deal to close. It’s still not clear what’s going to happen next, but it seems like Elon Musk and Twitter are headed towards a very lengthy legal battle. This news is really sad for Twitter, as the company already lost a lot of money on its market cap, which was halted because of its hiring and layoffs. This will also be causing a lot of anxiety among the employees at Twitter, who have already been a lot worried about their future as Elon Musk’s company.

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