How laughing Elon Musk got serious about ending Twitter deal

$44bn Twitter takeover. On the one hand, his legal team has filed tightly argued disclosures against the deal, citing various clauses in the agreement. On the other, he posts poo emojis at the people he is negotiating with.Indeed, the scatological cartoon directed at Twitter’s CEO, Parag Agrawal, probably broke a merger agreement that Musk has now reneged on.

Twitter has said it will go to court in Delaware, the US state that has jurisdiction over the deal, in order to “enforce the merger agreement”. Its options include seeking a $1bn break fee from Musk or asking a judge for “specific performance”, which means requiring Musk to push ahead with the agreed transaction at $54.20 a share. Musk certainly presumes that Twitter will choose the latter.on 14 April, even if the $54.20 price hinted at a weed joke, given “420” is slang for marijuana.

Twitter shares, which fell 6.5% when trading opened in New York on Monday to $34.46, have declined by about 20% so far this year and can expect to fall further if Musk exits completely. The tech-heavy Nasdaq index gives an idea of the wider market, having fallen 25% so far this year.

Australia Latest News, Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Elon Musk may have to complete $44bn Twitter takeover, legal experts sayTesla chief wants to terminate deal but he could be compelled to go through with it or pay a break fee Please, no.
Source: GuardianAus - 🏆 1. / 98 Read more »

The Elon Musk Twitter paradoxInvestors are divided about whether Elon Musk’s move to pull out of his Twitter takeover is a case of market capitulation, or a sign that equity markets are likely to remain depressed.
Source: FinancialReview - 🏆 2. / 90 Read more »

Twitter to sue Elon Musk after abandoning takeover dealSEC will be jailing Twitters executives for lying.I doubt he cares. I would still put my money on Musk to win. want to see me without a bra?
Source: SkyNewsAust - 🏆 7. / 78 Read more »

The problem with Elon Musk’s high stakes plan to pull out of $US44bn Twitter dealMusk got the timing of his $US44bn offer for Twitter horrendously wrong. But now, he might have a very hard time wriggling out of it.
Source: brisbanetimes - 🏆 13. / 67 Read more »

The problem with Elon Musk’s high stakes plan to pull out of $US44bn Twitter dealMusk got the timing of his $US44bn offer for Twitter horrendously wrong. But now, he might have a very hard time wriggling out of it. To be honest Elon musk is just wasting his money 💴
Source: smh - 🏆 6. / 80 Read more »

The problem with Elon Musk’s high stakes plan to pull out of $US44bn Twitter dealVirtually the moment Elon Musk signed the deal, the overall US sharemarket, which had been falling since the start of this year, accelerated its decline. It has fallen a further 14 per cent | OPINION from Stephen Bartholomeusz
Source: theage - 🏆 8. / 77 Read more »