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Elon Musk offers to go ahead with Twitter takeover after all

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Billionaire Elon Musk has decided to stop fighting Twitter in court and go ahead with his original offer to buy the company for $44 billion.

When Musk filed a letter to regulators, the company’s shares were suspended after jumping 13%. He said he decided to carry out his plan to acquire the social media company again and again.

He first pitched an acquisition of the company in April before attempting to back out of the deal this summer, citing concerns about the number of bots on the platform. It has been contested in court in a trial scheduled to begin in Chancery Court, Delaware.

The filing says debt financing is available and he will complete the deal as long as the court drops the lawsuit.

Most legal experts convince the presiding judge of the court, Prime Minister Catherine St. Jude McCormick, that she should not honor the terms of a binding offer to buy the company for more than $54.20 a share. I think that I had a hard time.

Twitter’s stock jumped 13% to $48 on the news before it was suspended.

Anne Lipton, a law professor at Tulane University, told CBC News that Musk’s legal claims are by no means a big deal.

“My view has always been that Twitter has a much stronger case,” she told CBC News in an interview. I thought it would happen.”

It doesn’t necessarily have to go to plan, but she says it’s the most likely outcome given that all sides want it to go ahead.

The ugly legal exchange “makes him look like an unreliable trading partner, but I’m not sure anyone thought otherwise from the beginning,” she said. offered a price that was a weed joke,” she said, referring to the asking price of 4.20 for masks, a well-known nickname associated with cannabis.

Robert Anderson, a law professor at Pepperdine University, said Twitter has the right to demand more assurances before doing business with Musk in good faith.

“Twitter may be concerned that the same thing will happen again if it doesn’t tighten its security,” Anderson said. will ask.”

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