Twitter just isn’t 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 concerning Musk’s merger termination try, which depends on the prodigious breeder‘s assertion that Twitter misled him in regards to 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 worth 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 Courtroom 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 possible ready upfront and had prepared for this second. They’ll most likely do the remainder of their speaking both behind closed doorways in a negotiating room with Elon or in courtroom filings with the Delaware Courtroom of Chancery.
Musk appears to be intent on urgent the bots concern and has repeatedly introduced it up before now, nevertheless it’s additionally potential that is some number of “negotiating in public,” for the reason that share value and subsequently market worth of Twitter has declined significantly for the reason that billionaire first introduced his intent to accumulate the social community in April.
Make sure you learn extra about Musk’s aspect of the story in Taylor’s article, and keep tuned for extra developments on this (sadly) endless saga.