Twitter threatens to sue Elon Musk after he pulled the plug on a $44 billion takeover
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.However, Twitter says it plans to sue the Tesla CEO to uphold the deal.
As a result of Mr Musk's decision, shares of Twitter fell 7% in extended trading, well below the $54.20 that he had offered to pay for the company back in April. Much of the drama has played out on Twitter, with Mr Musk - who has more than 95 million followers - lamenting that the company was failing to live up to its potential as a platform for free speech.Picture: Alamy
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