Twitter Sues Elon Musk to Enforce Buyout Deal

Twitter is suing Elon Musk to force him to honor his agreement to buy the company for $54.20 per share, for a combined total of $44bn, after the latter abandoned the deal citing concerns with Twitter’s representations of the number of bot accounts on the platform.

In the lawsuit, filed in Delaware, Twitter accuses Musk of walking away from the deal because it no longer serves his interests, and that he has undermined the company’s value for shareholders.

From Twitter’s legal filing:

“In April 2022, Elon Musk entered into a binding merger agreement with Twitter, promising to use his best efforts to get the deal done. Now, less than three months later, Musk refuses to honor his obligations to Twitter and its stockholders because the deal he signed no longer serves his personal interests. Having mounted a public spectacle to put Twitter in play, and having proposed and then signed a seller-friendly merger agreement, Musk apparently believes that he — unlike every other party subject to Delaware contract law — is free to change his mind, trash the company, disrupt its operations, destroy stockholder value, and walk away.”

Last week, Musk announced his intention to walk away from the Twitter deal, arguing that the far-left tech company failed to provide him with accurate estimates of the number of bot accounts on the platform. The company announced its intention to sue shortly afterward.

Musk initially announced his intention to buy the platform in April, motivated by what he said were disagreements with the company’s draconian content moderation practices, kicking off one of the most highly publicized corporate takeover attempts in recent memory.

Declaring himself a “free speech absolutist,” Musk said he intended to implement a more free speech-friendly content moderation policy, including the restoration of Donald Trump’s account.

Allum Bokhari is the senior technology correspondent at Breitbart News. He is the author of #DELETED: Big Tech’s Battle to Erase the Trump Movement and Steal The Election.