Twitter is stuck. Elon Musk has decided he no longer wants to buy the social media site for $44bn after all. Neither side is likely to emerge from this fight in good shape.
Twitter intends to sue the electric vehicles boss to enforce the deal’s closure at the agreed price of $54.20 per share. It has hired elite law firm Wachtell, Lipton, Rosen & Katz to represent it.
An expensive legal battle is in no one’s interest. But Musk leaves Twitter with little choice. If it allows Musk to walk away, it may face lawsuits from its own shareholders.
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