Tesla CEO Elon Musk and Twitter are bracing for a legal fight after the billionaire said he was abandoning his $44 billion bid for the social media company. Here’s a look at what could happen next.
Twitter, in turned, declared its intent to sue Musk. The company could have pushed for a $1 billion breakup fee that Musk agreed to pay under these circumstances. Instead, it looks ready to fight to complete the purchase, which the company’s board has approved and CEO Parag Agrawal has insisted he wants to consummate.
Morningstar analyst Ali Mogharabi noted that Twitter has described its estimate of fake and spam accounts for years in regulatory filings while explicitly noting that the number might not be accurate given the use of data samples and interpretation. The case could also end in a settlement, for instance with the two sides negotiating a lower price. If Musk wins, there’s also the question of the $1 billion breakup fee. He can certainly afford it, but will he want to pay?
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