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Elon Musk backs down and buys Twitter

  • October 4, 2022
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They say early withdrawal is a win, and that saying is probably entirely applicable to Elon Musk’s move to buy Twitter. Although, to be more precise, we should

They say early withdrawal is a win, and that saying is probably entirely applicable to Elon Musk’s move to buy Twitter. Although, to be more precise, we should be talking about the revocation of the resignation, because according to what we can read in the Associated Press, Elon Musk has decided to back down from the controversial withdrawal of his offer on TwitterI take it back exactly under the conditions originally signed.

this movement will restore the price per share to $54.20originally agreed between the parties, and the proposal would be sent by Elon Musk a few hours ago (in the middle of the night in the United States) on Twitter, which, according to sources cited in the first information, would study at the moment if they accept the offer or, on the contrary, prefer the legal process that has begun a few months ago and which will bring both parties to court from October 17 as set last July.

The outlook for Elon Musk was bleak practically from the start. The legal process has begun and could eventually be completed in Delaware, a jurisdiction where the legal framework usually favors the completion of acquisition processes, mergers, etc., and we must add to the record of Judge Kathaleen McCormick, which also has a clear trend in this regard, which has already been demonstrated when togada modeled itself on Twitter, not Musk, in defining the dates and terms of the process.

Developing…

Source: Muy Computer

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