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Is the blue bird going to blow Tesla owner Elon Musk’s senses? Preparing to be dragged into court


Elon Musk and Twitter Deal: Now the blue bird (Twitter) of Elon Musk, who is called the world’s richest man, is about to blow his senses. Twitter has made preparations to drag Elon Musk to court and has declared a war of law. Elon Musk has announced the cancellation of the Twitter deal, but Twitter is not going to leave him easily. According to media reports, Twitter has hired New York’s top legal firm Wachtell, Lipton, Rosen & Karz LLP for this. Twitter will file a lawsuit against Musk in Delaware next week. Musk himself has made preparations to save himself in this legal battle. He has hired the law firm Quinn Emanuel Urquhart & Sullivan.

Twitter Chairman Brett Taylor said on Saturday that the company’s board of directors agreed to break the deal with Musk at a set price and terms, according to The Hill, but planned legal action against Musk for complying with the terms of the merger agreements. is going. We are sure that we will win in this legal battle. A case will be filed against Musk in a Delaware court.

What happened in this deal so far

Musk started buying Twitter shares from January this year. On March 14, he announced a 9.2 percent stake in the company. After this, on April 5, Twitter’s Indian-origin CEO Parag Agarwal announced that Musk would join Twitter’s board, but on April 10, Agarwal said that Musk had decided not to join the board. After this, on April 14, Musk offered to buy the entire company at a price of $ 54.20 per share. The entire deal was worth $44 billion.

Why did Elon Musk change his mind?

According to experts, Elon Musk changed his mind mainly for two reasons. The first reason was that tech stocks have fallen a lot in the recent past. These also include Twitter. Along with this, the shares of Tesla have also fallen upside down. On Friday, the company’s stock closed at $ 752.29. Its price on April 4 was $ 1,149.91. Musk has also suffered a lot due to this fall in Tesla prices. Musk has about 17.50 million shares in Tesla. This fall also dealt a blow to Musk’s plans to buy Twitter. Musk is a businessman and he had realized that by buying Twitter, he would have less profit and more loss. This is the reason why he got rid of it by making excuse of fake accounts.

Also read: Explainer: Why did the fight between Elon Musk and Twitter happen, what will be its effect? Know the full controversy

Also read: Twitter Deal: Twitter’s reaction to Musk’s announcement to end the deal, threatened legal action

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