Twitter Sues Elon Musk for denial to complete $44B purchase

It seems after many months of hype and acquiring extra fame for buying Twitter for a big amount of $44 Billion, Elon Musk has now lost interest in the purchase and finally is attempting to back out from the deal. The denial to complete the $44B purchase has come as a surprise for many and people are just calling it publicity stunt.

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On Tuesday, Twitter sued Musk to complete the long deal that over-occupied both the parties and now after all that time wastage, Musk’s decision to just back off seems like a kid’s play. If Musk denies the purchase deal, the social media platform company’s image is at stake.

 

 $44B purchase Denial- A Publicity Stunt?

Elon Musk, the leading well-known tycoon had reached a deal to buy Twitter. It all started with his tweet criticizing Twitter to be a platform where there is no liberty of dialogue and he conveyed his thought that he was planning to start one of his own social media company like Trump. Later he bought a massive 9.2% Twitter stake which made him a prominent entity in the market. He gained another milestone by offering a huge amount of $44 billion to buy the social media company. The meetings and dealings started between Elon Musk and the company’s shareholders for many months. In the meanwhile, Elon Musk’s followership has reached 100 Million on Twitter. His purchase deal, comments, and suggestions to Twitter gave him speedy liking on the social media platform.

The lawsuit has been filed against Elon Musk after the company got a letter from him saying he is ending the agreement to buy the social media platform. Twitter filed a lawsuit against him which will surely end up in a lengthy and messy court battle. Musk’s decisions show his juvenile personality. The lawsuit has been filed in Delaware’s Court of Chancery. Musk’s lawyer denied many arguments as the billionaire revealed that he is no longer interested in purchasing the social media platform “Twitter”. Twitter reacted to this move in a very bad way and the company accused Elon Musk of breaching the agreement and named it his model of hypocrisy.

Few are quoting Elon Musk wanted to get more fame and limelight by staying in Twitter affairs but others have the view that company Tesla got a loss of $100B and that is why Elon is backing out of his deal.

Also Read: Following Instagram, Twitter Tests Curated Customized Timelines

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Fizza Atique

Fizza Atique is a Tech writer specializing in the intersection of tech and culture. She likes photography, VR, electronic music, coffee, and baking.
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