Elon Musk, CEO of Tesla, the world's richest American carmaker, wanted to remove himself from the process of buying Twitter. But all the way back is closing for him. He has to buy this small message posting platform at the price of 44 billion US dollars that he initially offered to buy Twitter.
This information was given in a report of The Economic Times.Elon Musk, the world's richest man, is known as a technology entrepreneur and investor. The incident over whether to buy Twitter started last April. Musk does not have a good relationship with Facebook founder Mark Zuckerberg. There were rumors that he might buy a social media outlet. In April of this year, Elon Musk announced his interest in buying Twitter, making the long-running rumor true . He wanted to pay the price of 54.20 US dollars per share to buy Twitter in a hurry.
That is, he agreed to spend 44 billion dollars to buy Twitter. But within a few days, his mind changed again. He said that he is not being given real information about how many fake accounts there are on Twitter. If he doesn't get this information, don't buy Twitter. An argument started with Twitter authorities about this.After that, he made several attempts to get out of Twitter's contract for several months.
In view of this, Twitter authorities approached the court. The case was dropped. Elon Musk took various strategies starting from delaying the proceedings in various legal battles. But it didn't work.Twitter authorities claim that Musk has spread confusion by claiming to have a fake account. He is bound to sign a deal to buy Twitter for $54.20 a share. Then on July 29, Musk filed a counter-suit against Twitter.
He will have to face Twitter authorities in the Chancery Court of Delaware on October 17 in the case of Twitter. Analysts believe that Elon Musk will lose if he goes to court. Therefore, Musk had previously agreed to buy Twitter at the same price last Tuesday. But before that, Musk's lawyers negotiated for a few days to pay $4 per share less than the actual price. But they could not agree on other terms.
Twitter authorities claim that Musk has spread confusion by claiming to have a fake account. He is bound to sign a deal to buy Twitter for $54.20 a share. Then on July 29, Musk filed a counter-suit against Twitter. He will have to face Twitter authorities in the Chancery Court of Delaware on October 17 in the case of Twitter. Analysts believe that Elon Musk will lose if he goes to court.
Therefore, Musk had previously agreed to buy Twitter at the same price last Tuesday. But before that, Musk's lawyers negotiated for a few days to pay $4 per share less than the actual price. But they could not agree on other terms.Elon Musk was under increasing pressure to buy Twitter.
Therefore, on October 3, he announced that he would return to the process of buying Twitter at the proposed price. Elon Musk has sent a letter to authorities offering to buy Twitter. But because the matter is confidential, no one has opened their mouths about it. Its purpose, however, is to avoid facing a court battle on October 17. However, Elon Musk's announcement to buy Twitter has made some gains.
The share price of his company Tesla has increased.At the same time, Twitter's share price also increased. But now investors are saying that the drama of buying or not buying Twitter has arrived at the last moment. But Twitter's lawyers are skeptical of Musk's letter. They are looking at the letter. If the issue of withdrawing the case is there, then in their eyes it will be marked as more 'mischief' by Mask
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