Billionaire entrepreneur Elon Musk moved to exit his planned $44 billion deal to buy Twitter on Friday, but the social media platform made it clear that there would be backlash.
According to a report from the Associated Press, shortly after Musk sent a letter — via his attorneys — stating that he was walking away from the deal, Twitter fired back.
“The chair of Twitter’s board, Bret Taylor, tweeted that the board plans to sue Elon Musk to complete the $44 billion merger he just rejected and that Twitter is ‘confident’ it will prevail,” the outlet tweeted.
“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,” Taylor tweeted.
CNBC reported that the original agreement state that in case the Tesla CEO backed down from the Twitter deal, he would have to pay $1 billion. The platform however, seems to demand the full $44 billion.
This is an excerpt from The Daily Wire.
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