Elon Musk has decided to terminate his deal to try and buy Twitter. Could anyone see this coming? There have been rumors and issues surrounding this buy for quite some time now and I can't say that I am surprised to see it fall through.
Now Musk reportedly faces a lengthy legal fight over the attemped buy of Twitter as well.
Twitter has allegedly indicated that they will be taking Musk to court in an effort to try and enforce the $44 billion deal.
This could turn into a very lengthy battle between the two. And it might also result in a fine as well if he walks away from the deal to buy Twitter.
It is reported that Musk has told regulators just on Fri that he was going to be calling off the deal to try and buy the company. And it is no secret that there are many other arguably better endeavors that he could be spending his money on these days.
It's alleged that the deal didn't go through because of some supposed refusal to turn over more information about bots, as grounds to call it quits, but that point is debated and we will have to wait and see it play out in court now and who knows how much that process might turn into.
pics:
pic1 source
This is not financial advice and has been posted for information purposes only.
Sources:
https://www.marketwatch.com/story/elon-musk-terminates-deal-to-buy-twitter-11657315801
https://www.bloomberg.com/news/articles/2022-07-08/musk-twitter-buyout-fight-poses-question-of-who-might-sue-first#xj4y7vzkg
https://www.cnbc.com/2022/05/13/elon-musk-cant-just-walk-away-from-twitter-deal-by-paying-1-billion.html