Twitter Wants To Force Elon Musk To Complete The Acquisition, But Is That Really Possible?
Elon Musk doesn’t want to buy Twitter anymore, but Twitter isn’t going to let it go that easily. After the billionaire’s announcement of the termination, the social network immediately stated that a complaint will be filed against the latter to force his hand. Whether such a strategy will be effective remains to be seen.
This is the question everyone is asking today after Elon Musk announced he wanted to cancel the Twitter takeover. And now ? For the billionaire, the decision seems final: too many bots swarming on the platform according to him, and the initial $44 billion proposal no longer holds. Not to mention the long battle that pitted him against the company to access accurate data on the subject. But for Twitter, the soap opera is far from over. Indeed, shortly after the announcement, the social network announced file a complaint against Elon Musk The goal: to force the latter to continue with the transaction.
The conclusion of this case could therefore be played out in court. On the one hand, the one who will have to justify ending a deal worth several billion dollars. On the other hand, his opponent who intends to win the jackpot
Twitter files complaint against Elon Musk, he is not much concerned
However, this alternative is not the only possible ending to this story. Ronald Gilson, professor of law and commerce at Columbia University, raises the possibility of:a financial agreement between the two parties. “One possible solution would be for Musk to pay Twitter an amount that reflects the loss of Musk not making the purchase,” before insisting that “the fight is just about the money.” However, this possibility is very likely.
Remember, shortly after the announcement of the acquisition, we learned that a clause in the contract states that if the transaction were canceled, the responsible party would have to pay the other $1 billion. But this clause reveals two other unknowns. First, Twitter could decide that this amount is not enough to repair the damage caused by this case. Given the roller coaster that Elon Musk’s interest in the social network has been in recent months, it would be hard to prove him wrong.
The bot affair has permanently tarnished the image of the platform, which, to make matters worse, knows full well that it will never be able to such a favorable market than that suggested by the billionaire. Currently, the company is valued at $28 billion. The compensation clause could also lead to a different conclusion. Indeed, we could witness what is called “specific execution”, a legal concept that, if used correctly by Twitter, would allow forcing Elon Musk to buy out. In other words, if no agreement has been reached between the businessman and the company by the time the court goes to court, it is quite possible that the acquisition will close and Elon Musk will be the new owner of Twitter.
Either way, this possibility doesn’t seem to make Elon Musk sweat a cold sweat. While the latter is already the subject of several legal proceedings, as usual, he prefers it take the situation lightly As a final provocation, the billionaire took to Twitter to poke fun at… Twitter. He just posted a meme — if you really want to call it that — where he laughs out loud. The caption reads: “They said I couldn’t buy Twitter. They then declined to provide information about the bots. Now they want to force me to buy Twitter in court. They now have to give the information about the bots to the court.” That said, we didn’t really expect much more from the director.
Brian is the news author at Research Snipers which mainly covers Technology News, Microsoft News, Google News, Facebook, Apple, Huawei, Xiaomi, and other tech news.