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Twitter really doesn’t have Elon Musk’s bid not to buy it – londonbusinessblog.com

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Twitter is not on the same page as Elon Musk when it comes to his new official bid to pull out of his proposed $44 billion acquisition of the company. The company released a brief formal statement regarding Musk’s bid to end the merger, which is based on the prodigious breeder’s claim that Twitter misled him about the extent of his bot problem when he entered into the deal.

Twitter’s single paragraph, two sentence response reads:

We are committed to closing the transaction at the price and terms agreed with Mr. Musk and intend to take legal action to enforce the merger agreement. We are confident that we will prevail in the Delaware chancery.

The statement reflects almost exactly a tweet sent by Bret Taylor, chairman of the Twitter board and co-CEO of Salesforce, so obviously the approach is one that Twitter probably prepared in advance and ready for this moment. They will likely spend the rest of their conversation behind closed doors in a negotiating room with Elon or in court files at the Delaware Court of Chancery.

Musk appears to be intent on tackling the bots issue and has brought it up on several occasions before, but it’s also possible that this is a form of “public negotiation” as Twitter’s share price and thus market value are significantly affected. has fallen since the billionaire first announced his intention to take over the social network in April.

Learn about Musk’s side of the story in Taylor’s article and stay tuned for more developments in this (sadly) endless saga.


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