Elon Musk changed his mind about buying Twitter

In April Elon Musk was going to buy Twitter for $44 billion. Not any more - the entrepreneur breaks the deal.

Spam bots were the main reason for rejection. According to the Twitter, their number is less than 5% of the total number of users. Mask believes that there are much more of them, and needs the company to provide real data.

Now Twitter wants to sue Mask.

"Leadership of Twitter intends to complete the transaction at the price and terms agreed with Mr  Mask and plans to go to court to enforce the merger agreement. We are confident that we will prevail in the Delaware Court of Chancery." - Bret Taylor, head of management of Twitter. 

If the agreement is declared invalid, the party that violated it will be obliged to pay a billion dollars.

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