Twitter’s board has said it will take legal action to ensure that its sale to Elon Musk goes through after the billionaire walked away from the deal Friday.
Twitter shares continued to slide in pre-market trading early on Monday morning as the social media giant prepares to sue billionaire Elon Musk for attempting to renege on a deal to acquire it for $44 billion last week.... [+]Key Facts
Twitter’s shares were down more than 6% in pre-market trading early on Monday, trading at $34.37 per share. The pre-market values would place Twitter’s market cap at around $26 billion, or 40% lower than the sum Musk had agreed to pay to acquire the company and take it private at $54.20 a share.that he wants to walk away from the deal—accusing Twitter of failing to provide the data he needs to establish the number of bots and spam accounts on its platform.the deal by suing Musk in the Delaware Court of Chancery, the state where the company is incorporated.
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