The world’s richest man decided to acquire the company for £36billion in April, but now says he wants to back out because it failed to provide information regarding fake accounts.
Twitter said it plans to pursue legal action to enforce the agreed sale.
Legal and financial experts said the terms of his deal with the social media giant require Musk to pay a £830million ($1billion) “break-up fee” if he does not complete.
They also warned Musk that his looming courtroom showdown with the Twitter board is likely to be a protracted and “messy” fight costing millions more in legal fees.
This story is from the July 10, 2022 edition of Sunday Express.
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This story is from the July 10, 2022 edition of Sunday Express.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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