{"id":141908,"date":"2022-07-09T11:02:25","date_gmt":"2022-07-09T16:02:25","guid":{"rendered":"https:\/\/lifeboat.com\/blog\/2022\/07\/elon-musk-says-hes-terminating-twitter-deal-board-to-fight"},"modified":"2022-07-09T11:02:25","modified_gmt":"2022-07-09T16:02:25","slug":"elon-musk-says-hes-terminating-twitter-deal-board-to-fight","status":"publish","type":"post","link":"https:\/\/lifeboat.com\/blog\/2022\/07\/elon-musk-says-hes-terminating-twitter-deal-board-to-fight","title":{"rendered":"Elon Musk says he\u2019s terminating Twitter deal, board to fight"},"content":{"rendered":"<p><a class=\"aligncenter blog-photo\" href=\"https:\/\/lifeboat.com\/blog.images\/elon-musk-says-hes-terminating-twitter-deal-board-to-fight3.jpg\"><\/a><\/p>\n<p>Elon Musk announced he will walk away from his tumultuous <a href=\"https:\/\/techxplore.com\/news\/2022-04-musk-privatize-twitter.html\">$44 billion offer<\/a> to buy Twitter, leaving the deal on the verge of collapse. The Tesla CEO sent a letter to Twitter\u2019s board Friday saying he is terminating the acquisition.<\/p>\n<p>But Twitter isn\u2019t accepting Musk\u2019s declaration. The chair of Twitter\u2019s board, Bret Taylor, tweeted in response that the board is \u201ccommitted to closing the transaction on the price and terms agreed upon with Mr. Musk and plans to pursue legal action to enforce the merger agreement. We are confident we will prevail in the Delaware Court of Chancery.\u201d<\/p>\n<p>Twitter 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 deal, which the company\u2019s board has approved and CEO Parag Agrawal has insisted he wants to consummate.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Elon Musk announced he will walk away from his tumultuous $44 billion offer to buy Twitter, leaving the deal on the verge of collapse. The Tesla CEO sent a letter to Twitter\u2019s board Friday saying he is terminating the acquisition. But Twitter isn\u2019t accepting Musk\u2019s declaration. The chair of Twitter\u2019s board, Bret Taylor, tweeted in [\u2026]<\/p>\n","protected":false},"author":661,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2019,1496],"tags":[],"class_list":["post-141908","post","type-post","status-publish","format-standard","hentry","category-elon-musk","category-law"],"_links":{"self":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/141908","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/users\/661"}],"replies":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/comments?post=141908"}],"version-history":[{"count":0,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/141908\/revisions"}],"wp:attachment":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/media?parent=141908"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/categories?post=141908"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/tags?post=141908"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}