With Elon Musk on never get bored. In April, the boss of Tesla and SpaceX came up with a surprise by buying almost 10% of Twitter. After this entry into the capital of the microblogging platform, Musk was supposed to enter the board of directors. He eventually turned down the offer, as it would have prevented him from buying the entire company. After a short wait, Twitter and Musk finally reached an agreement to take over the network. social American billionaire for $44 billion. But as he waited for the deal to close, Elon Musk began to question how Twitter calculates the percentage of bots on son net social. He first announced a suspension of the agreement before pulling out of it entirely. And besides, Elon Musk and Twitter are now in a legal battle, car net social wants to state an agreement signed by both parties to force the takeover.
Twitter wins first victory over justice American
The first round of this court battle was won by Twitter. Indeed, according to Ars Technica, in September, Twitter demanded a speedy trial. Camp Elon Musk son the party requested a trial in February 2023, citing the delay needed to analyze data from Twitter. Delaware Chancery Judge Kathleen McCormick has set a five-day trial for October, so the date is closer to the date requested by Twitter than the one requested by Elon Musk. Moreover, according to Ars, she explained that the deadline threatens Twitter with irreparable damage. “These concerns are on full display in this case,” she also reportedly said, according to the Wall Street Journal. “As a general rule, the longer a merger transaction remains in limbo, the greater the cloud of uncertainty over the company. grand and the higher the risk of irreparable harm to sellers. grand. It remains to be seen whether Musk’s arguments to justify his withdrawal from the agreement with Twitter are sufficient during the course of the trial. In any case, as Ars points out, last year Kathleen McCormick forced the company to complete the merger in a deal that would have been similar to this one.
