arrived dead end that many have predicted for a long time and the legal team Elon Musk announced the withdrawal of the purchase offer on Twitter for the $43,000 million the South African billionaire earned last April after several comments and moves in the same direction.
The reason for canceling the operation revolves around doubts that Elon Musk himself has been raising since very shortly after the deal was made official: a large number of fake accounts that fill the social network, much higher according to Musk than the 5% estimated in those reports. Or, as they translated it in the statement, Twitter’s failure or refusal to provide “information and data necessary to conduct an independent analysis of fake accounts, spam, bots on the platform.”
Of course, Twitter’s management will not take the apology as good, nor will they be satisfied with Musk’s change of heart, and in the words of Bret Taylor, the social network’s current president, “The Twitter Board agrees to close the transaction at the price and terms agreed with Mr. Musk and plans to take legal action to enforcement of the merger agreement.’
In short, it looks like that the situation will be resolved by the court and the one who a priori has the most to lose is Elon Musk, because he faces a one billion dollar contract payment or termination clause that can be accepted by the party that withdraws from the contract, in this case, him. However, Musk’s legal team is hiding behind Twitter’s lack of cooperation with the issue of fake accounts, as well as the marketing of the service, in order to get out of the conflict without sanctions.
However, this turn of events surprised almost no one: just a few days ago, The Washington Post pointed to Musk’s steadfast refusal to complete the purchase, citing, among other things – the aforementioned – economic objections against Musk, who is trying to increase the amount of the operation and it ended up being met. Does a fish die by mouth?
The truth is, while Elon Musk may be labeled one or the other, which he deserves, they haven’t made it easy for him since he announced his intention to acquire Twitter, and neither have administrations on both sides of the pond. it is not well known what, although the “warning” did not go through since the operation was not completed, to many users of the social network itself, many of whom shouted then and now again: then for allowing a person like Musk to buy the platform; now because he is not forced to do it to teach him a lesson.
