Twitter isn’t on the identical web page as Elon Musk in relation to his newly official try and again out of his proposed $44 billion acquisition of the corporate. The corporate issued a short formal assertion concerning Musk’s merger termination try, which depends on the prodigious breeder‘s assertion that Twitter misled him concerning the extent of its bot drawback when he entered into the deal.
Twitter’s single paragraph, two sentence response learn as follows:
We’re dedicated to closing the transaction on the worth and phrases agreed upon with Mr. Musk and plan to pursue authorized motion to implement the merger settlement. We’re assured we’ll prevail within the Delaware Court docket of Chancery.
The assertion just about precisely mirrors a tweet despatched out by Twitter board chair and Salesforce co-CEO Bret Taylor, so it’s clear the method is one Twitter doubtless ready prematurely and had prepared for this second. They’ll in all probability do the remainder of their speaking both behind closed doorways in a negotiating room with Elon or in courtroom filings with the Delaware Court docket of Chancery.
Musk appears to be intent on urgent the bots problem and has repeatedly introduced it up before now, but it surely’s additionally potential that is some number of “negotiating in public,” for the reason that share value and due to this fact market worth of Twitter has declined significantly for the reason that billionaire first introduced his intent to purchase the social community in April.
Make sure you learn extra about Musk’s aspect of the story in Taylor’s article, and keep tuned for extra developments on this (sadly) unending saga.