![]() The company said it believes the deal is in the best interest of all shareholders and intends to “close the transaction and enforce the merger agreement at the agreed price and terms.” It’s possible that Twitter could try to sue Musk to complete the deal if he tries to walk away from the acquisition. In a statement, Twitter said it “has and will continue to cooperatively share information” with Musk. On Monday the company reiterated that it will hold Musk accountable to the terms of his proposed $44 billion takeover, a suggestion that even the company believes he may be trying to blow up the deal. Musk has estimated that fake accounts make up at least 20% of all users.īut Twitter said it has indeed shared information with Musk on how it calculates the number of spam accounts on the service, and executives have told employees that Musk can’t just put the deal on hold as the two sides have signed a merger agreement. Last month, Musk said he was putting the deal “on hold” until the social media giant can prove bots make up fewer than 5% of its users, as the company has stated in public filings. “The unfortunate thing for Musk is that termination provisions under merger agreements don’t allow for buyer’s remorse.” ![]() “He’s jockeying here - he’s trying to create a paper trail,” said Andrew Freedman, a partner at the law firm Olshan Frome Wolosky LLP, who is an expert in activist investment. Both sides have been meeting regularly and sharing information, said two of the people, who weren’t authorized to speak publicly. But behind the scenes, the deal is proceeding, according to people familiar with the matter. ![]() In a securities filing on Monday, Musk said he thinks Twitter is breaching their agreement by not meeting his demands for more information about spam and fake accounts.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |