Twitter wants to force Elon Musk to buy in court
09.07.2022, 08:41 | Reading time: 5 minutes
Entrepreneur Elon Musk wants to terminate his deal with Twitter.
Photo: Maja Hitij/Getty Images
Elon Musk has withdrawn a $44 billion contract offer for Twitter.
Washington. This was tweeted among the tech jacks-of-all-trades Elon Musk and short message service with the small white bird in the logo; At least for now.
The Tesla CEO officially informed the US Securities and Exchange Commission on Friday through his lawyers that he was no longer pursuing the plan. Twitter Had agreed in writing in the spring for a price of around 44 billion dollars to take it off the stock exchange and run it as a private company from then on.
For the unilateral termination of the controversial deal, Musk cited the reason he had known for weeks (and was viewed by many as weak): Twitter allegedly did not want to explicitly name the approximately 230 million users. how many of the accounts spam accounts And the bots are going back.
Rather, the company “made false and misleading information”. It represents a large scale fracture Musk noted against the broader acquisition agreement.
Entrepreneur Elon Musk wanted to buy Twitter for $44 billion.
Twitter shares surged shortly after the close stock market From 7.5 percent to about $34. For comparison, Musk offered shareholders $54.20 a share a week ago.
Twitter management in San Francisco responded quickly and violently out of The richest man in the world (about 220 billion dollars) and triggered a protracted dispute before the judiciary.
“We want the sale that was agreed with Musk value Will implement that and go to court for it.”
Musk’s return had been expected in industry circles and on the stock market for weeks. Popular Opinion: Elon Musk, the supposedly unsurpassed genius, is done with his bold original deal gambled and failed to secure funding for the $44 billion deal. When he realized that, he looked for a nice way. Lo and behold, the claim that Twitter has millions of fake users.
At first it was assumed that Musk was thinking about it vehicle Just wanted to lower the agreed purchase price. American commentators write that the fact that they now put up with everything they do throws the multi-entrepreneur, who previously bought nine percent of Twitter shares together, in an unfavorable light.
Musk has to pay a billion dollar fine
Musk made his takeover bid in April, and Twitter has a bright future as a “global marketplace.” Internetpredicted. Nevertheless, voices were raised warning Musk against being overwhelmed. For him Rich In addition to the e-mobile giant Tesla, the space company SpaceX as well as Neuralink and “The Boring Company” are related.
Twitter management has classified the non-redemption case as a . taken away penalty Only after some hesitation did he offer a billion dollars. Also read: Elon Musk: Baby drops name – and changes gender
Shortly thereafter, Musk told his now 100 million Twitter subscribers that the deal was on hold due to spam account disagreements. Twitter countered just a few weeks ago fake accounts Less than five percent of the user base. CEO Parag Agarwal stressed that the service blocks more than half a million spam accounts every day.
The Twitter deal ends big banksThose employed to fund marathons have been hit hard. Goldman Sachs and JPMorgan Chase alone are being denied about $130 million in fees, according to the Wall Street Journal.
Musk to the final To return The one-to-one is probably done too. The multi-billionaire had announced, among other things, that he would allow former President Donald Trump, who has been banned from Twitter since January 2021, to return to the platform in the interest of maximum freedom of expression. Because of this, civil rights organizations feared that hate speech and lies could gain momentum.
Musk wanted a billion Twitter users
Whether Musk will actually get through with his Twitter deal with “Enjet” is an open question. some American Observer Don’t rule out the possibility that Musk could be forced into his “destiny” via text message in court.
The Twitter workforce is mostly human, which Musk thinks is bloated resistors Against the ambitions of the father of nine. Like Trump, the cynical Musk has repeatedly used Twitter as a shock tool. He suggested converting the Twitter headquarters in downtown San Francisco into a shelter for the homeless, since there was almost no one there. In mid-June, he explained in a question and answer session in front of Twitter employees that he wanted to increase the number of users from the previous 230 million to more than one billion; Among other things, due to high advertising revenue.
In the US financial media comes now the coming legal mud fight The tussle between Musk and Twitter was viewed with great unease. The first Twitter buyout plans are said to have had a negative impact on Tesla shares. If Musk is now arm wrestling with Twitter in front of the judiciary for months, it will not only further affect the short message service.
Background: Elon Musk recently acknowledged that his new Tesla factories in Texas and in Grunheide near Berlin are currently losing ground due to various constraints Arab,
This article first appeared on abendblatt.de. was published on