Bloomberg’s Ed Ludlow has reported that Elon Musk has terminated his deal with Twitter. And now Twitter is ready to sue him to force merger with legal action.
|Twitter Can Sell Itself to Elon Musk for $43 Billion: eAskme
Ed Ludlow has shared this infroamtion in his following tweets:
More from filing: On July 8, 2022, the Reporting Person’s advisors sent a letter to Twitter (on the Reporting Person’s behalf) formally notifying Twitter that the Reporting Person is terminating their merger agreement. $TWTR @elonmusk
— Ed Ludlow (@EdLudlow) July 8, 2022
Twitter chairman Bret Taylor has also responded with a tweet saying that Twitter will sure Elon Musk to enforce the merger agreement.
The Twitter Board is committed to closing the transaction on the price and terms agreed upon with Mr. Musk and plans to pursue legal action to enforce the merger agreement. We are confident we will prevail in the Delaware Court of Chancery.
— Bret Taylor (@btaylor) July 8, 2022
Twitter is ready to accept Elon Musk’s $44 billion offer.
Reuters have reported that the Twitter board is ready to meet Elon Musk for a $44 billion deal.
Elon Musk has offered $54.20/share for Twitter:
Reuters news agency has disclosed that people related to this matter, and sources explain that Twitter will sell itself to Elon Musk if the deal does not fall apart.
Reuters and New York Times have also reported that the Twitter board met Elon Musk on Sunday and discussed for hours.
Elon Musk already owns 9.1% of the Twitter stock. It means that Elon is the largest shareholder in the Twitter company.
Even Twitter wanted Elon to join the board, but Musk dropped that idea on 9th April 2022.
Can Elon Musk buy Twitter?
Yes, he can.
But it is not as simple as buying a Tesla car.
Most of the time, massive buyouts are funded by securing the debt. But Elon Musk may choose some different options.
It is said that Elon Musk will fund 2/3rd part of the $46.5 billion deal.
Once Musk tweeted that Twitter acquisition is essential for the future of civilization.
Even if we don’t think it is a very serious thought.
Yet if Musk owns Twitter, it means a new era of changes in the Twitter platform.
Musk is in favour of free speech and less moderation on Twitter.
It is primarily believed that if Elon Musk buys Twitter, the platform will be more open even for critics.
Musk already has experience running PayPal, and that experience can help him manage Twitter in a better way.
We are keeping a closer look at Elon Musk and Twitter’s deal and updating you with the latest events.
Stay tuned with us to know everything.
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