Musk’s about-face on Twitter shifts takeover saga to Delaware

Musk’s rationale centres on automated user accounts known as bots and how Twitter accounts for them. He alleges that the social media platform is teeming with spam bots, disputing Twitter’s contention that they make up less than 5% of total users. — Reuters

Now that Elon Musk has decided that he doesn’t want to buy Twitter Inc after all, he can’t just walk away from the US$44bil (RM194.79bil) contract. The billionaire co-founder of Tesla Inc will need to make his case before a judge in Delaware that Twitter failed to uphold its side of a merger deal reached in April. If history is a guide, his job won’t be easy.

Twitter xhairman Bret Taylor vowed Friday that the social media platform will fight in the Delaware Court of Chancery to compel Musk to follow through on his agreement, and the company has lawyered up in a race to sue. A filing could come as soon as early this week, people familiar with the matter told Bloomberg.