Illustration by Alex Castro / The Verge
Twitterâs message to Elon Musk after his attempt to bail on his $44 billion agreement to buy the company: Weâll see you in court.
âThe Twitter Board is committed to closing the transaction on the price and terms agreed upon with Mr. Musk and plans to pursue legal action to enforce the merger agreement,â tweeted Twitterâs chairman, Bret Taylor, less than an hour after Muskâs legal team said he wanted out of the deal in a filing with the Securities and Exchange Commission. âWe are confident we will prevail in the Delaware Court of Chancery.â
If youâve been following the twists and turns of this deal, itâs not a surprise that Twitter plans to put up a fight. Soon after Musk said he would buy Twitter and take it private, he began laying the groundwork for why he could back out, claiming that Twitter wasnât being forthcoming about the number of bots on the platform. Twitter has insisted to Musk that he has the correct information and that it intends to enforce the merger agreement.
Developing…