Father of nine children Elon Musk has officially pulled out for the first time in his life and will no longer purchase social media company Twitter.
Musk sent a letter to Twitter’s board confirming he’s chickening out of the big deal as per the SMH.
The people who believed Elon Musk was gonna buy Twitter are the same people still waiting on Trump’s healthcare plan.
— 𝐁𝐞𝐤𝐬 (@antifaoperative) July 8, 2022
This development has marked the end of the longest will-he-won’t-he tech saga in living memory with the conclusion a resounding “wont-he”.
In response, the board of Twitter has reaffirmed its openness to the takeover and has flagged plans to enforce it by taking legal action.
The 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. We are confident we will prevail in the Delaware Court of Chancery.
— Bret Taylor (@btaylor) July 8, 2022
Twitter Chairman Bret Taylor tweeted on Saturday morning that the board “plans to pursue legal action to enforce the merger agreement.” and that board members “are confident we will prevail in the Delaware Court of Chancery.”
Back in April, Musk was set to purchase the company for a whopping $64 billion Aussie dollars after what was probably a massive rush of blood to the head on Elon’s part.
In the months following, the Tesla CEO attempted to find every conceivable excuse to weasel his way out of the takeover, realising he’d fucked up big time.
One of the many excuses Musk tried to use to get out of the deal was complaining about bot accounts.
In the exit letter, Musk’s lawyers alleged that “Twitter is in material breach of multiple provisions of that Agreement, appears to have made false and misleading representations upon which Mr. Musk relied when entering into the Merger Agreement, and is likely to suffer a Company Material Adverse Effect” as per Gizmodo.
In normie-speak — “too many bots ahhhh!!!”
This was truly bizarre considering one of Musk’s original reasons for buying Twitter was so he could set about “defeating the spam bots”.
🚀💫♥️ Yesss!!! ♥️💫🚀 pic.twitter.com/0T9HzUHuh6
— Elon Musk (@elonmusk) April 25, 2022
Elon Musk says he’s not buying Twitter for $44 billion because of all the bots & fake accounts. Twitter says it’s suing him to compel purchase. I’d bet on a lower purchase price being negotiated before all is done here.
— Clay Travis (@ClayTravis) July 8, 2022
If the Twitter board does take legal action against Musk for backing out of the deal, we might not have a conclusion to this extremely cringeworthy story for weeks, months or even years.
In the meantime, let us gaze upon this absolutely cursed image of Elon and his children standing next to Pope Francis.
It’s giving “blink twice if you’re being held hostage”.
Honored to meet @Pontifex yesterday pic.twitter.com/sLZY8mAQtd
— Elon Musk (@elonmusk) July 2, 2022
