You can almost hear the exasperated sigh on Twitter as you watch devastations Elon Musk, CEO of Tesla and perhaps future owner of Twitter, forged at a time social network and business the last days. Despite the dramaTwitter always wants to move forward with the $44 billion sale to Musk and appears to be ready to force him to honor the merger deal.
CNN Business released a new look in Twitter’s line of thinking on Wednesday morning after yet another round of mayhem from Musk. Twitter’s board of directors released a statement emphasizing the terms of the merger agreement, apparently both for Musk and for the public.
“The Board of Directors and Mr. Musk have agreed to a transaction at $54.20 per share. We believe this agreement is in the best interests of all shareholders. We intend to complete the transaction and to enforce the merger agreement,” the board said. mentioned.
As CNN Business noted, the words “enforce the deal” seem to imply that Twitter is ready to sue Musk to compel him to go through with the sale. If Musk decides to pull out of the deal, heI would have to pay a $1 billion severance fee. He is worth some $219 billion.
Gizmodo reached out to Twitter on Wednesday morning to confirm the board’s statement, but had not heard back as of press time.
Earlier on Tuesday, the billionaire tweeted that its deal to acquire Twitter could not “move forward” until the social media platform proved that spambots and fake accounts accounted for less than 5% of its users.
Twitter responded to Musk’s recent antics in a proxy filing him submitted to the Securities and Exchange Commission on the same day. In the document, the company continued to recommend that its shareholders vote in favor of the merger and said it was committed to closing the deal “as quickly as possible.”
The statement adds new friction with Twitter battle with Musk, a man who once coveted the social media network but now responds to its CEO with the poo emoji. Honestly, it’s not clear if Musk still wants to buy Twitter. Some analysts believe Musk is simply using the spam bot excuse to try to back out of the deal altogether or drive down the price.
Twitter stock has tumbled ever since Musk began expressing his skepticism about the deal and the social media company itself. On Sunday, he said users were “manipulated by [Twitter’s] algorithm” in a way that they hadn’t realized in a Tweeter to his more than 93 million followers.