Elon Musk pulls out of $44bn deal to buy Twitter
Elon Musk is seeking to end his $44bn (£36bn) bid to buy Twitter, alleging multiple breaches of the agreement.
The announcement is the latest twist in a long-running saga after the world’s richest person decided to buy Twitter in April.
Mr Musk said he had backed out because Twitter failed to provide enough information on the number of spam and fake accounts.
Twitter says it plans to pursue legal action to enforce the agreement.
“The Twitter Board is committed to closing the transaction on the price and terms agreed upon with Mr. Musk,” Twitter chairman Bret Taylor wrote in a tweet, setting up a potentially long and protracted legal battle between the two sides.
The original merger agreement includes a $1bn (£830m) break-up fee.
Answer ALL questions
- Discuss the details of the Elon Musk and Twitter’s purchase scandal (30 marks)
- Discuss whether or not Elon Musk should honour his promise to buy Twitter at USD44bil deal(30 marks)
- Elaborate on the possible course of action (s) to ensure that the promise of business takeover deals do not fail. (40 marks)
Get Answers to Above Questions on Business Ethics
Answer 1: The Elon Musk’s and Twitter purchase scandal is known to everyone. This candle is all about Musk initially agreeing to buy twitter for a whoping $44bn and later refusing to honour the deal by way of raising a number of issues with twitter. Elon Musk has rejected the deal to buy Twitter for 45 billion dollars by saying that twitter fails to provide the information requested about the spam account by Musk….
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