Move means his contested claims that Twitter is lying about bots and user numbers are unlikely to be scrutinised in courtElon Musk revived his bid for Twitter at the original offer price of $54.20 a share, potentially avoiding a court fight over one of the most contentious acquisitions in recent history.
Musk’s proposal to match the original deal terms means Twitter is facing a future under the leadership of a mercurial billionaire who has spent months publicly criticising its management, questioning its value and changing his mind. It also means that his contested claims that Twitter was lying about which percentage of users were bots, for instance, are not likely to be scrutinised in court.
Musk formally quit the accord in July and Twitter sued him in Delaware Chancery Court to force him to go forward with the purchase. A trial is scheduled to begin October 17. In the weeks-long run-up to that showdown, lawyers for both sides have fired cannonades of subpoenas at each other aimed at teasing out testimony and evidence.
Inside Twitter on Tuesday, many employees were sitting through 2023 planning presentations when the news first started to circulate, according to multiple sources. Presenters did not acknowledge the news, which staffers saw spreading on their own social network. Many employees have opposed the idea of working for Musk, who has been openly mocked and criticised on internal Slack channels since the deal was signed.
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