Posted BY: Wyatt | NwoReport
Elon Musk has pulled the plug on his $44billion Twitter takeover as he accused the firm of refusing to hand over details about the number of spam bots on its site.
The billionaire blasted the social media giant for refusing to ‘comply with its contractual obligations’ throughout the acquisition process.
He also claimed the company had failed to operate normally over the past two months as it froze its hiring process and fired senior staff.
But Twitter immediately hit back, with its chairman revealing the firm planned to force through the blockbuster takeover through the courts.
Speaking to DailyMail.com, Ann Lipton, a professor of corporate governance at Tulane Law School, speculated that Musk pulling the plug on the deal could merely be a tactic.
Lipton said: ‘At least based on public reporting, his position is quite weak, legally. But that doesn’t mean he can’t credibly threaten to create major litigation headaches for Twitter that could cause matters to drag on for years.’