Can Elon Musk walk away from $44bn Twitter takeover?
Despite pulling the plug, Elon Musk could be forced by a US court to complete his $44bn takeover of Twitter, according to legal experts.
The Tesla chief executive told Twitter that he is terminating the deal, citing concerns about spam accounts. Twitter’s chairman, Bret Taylor, responded with a tweet stating that the company intended to “pursue legal action to enforce the merger agreement”.
Brian Quinn is an associate professor at Boston College law school. He told Newsday: “He’s realised that he’s paid too much for this company and he’s looking for a way out…the parties have signed a contract and it’s a…tightly written contract that favours the sellers…so I don’t think this plan is really gonna work.”
(Picture: Elon Musk’s Twitter profile is seen on a smartphone placed on printed Twitter logos. Credit: REUTERS/Dado Ruvic/Illustration)
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