Billionaire Elon Musk issued a humorous late-night response to Twitter Inc.’s preparations to sue and force him to complete a $44 billion takeover of the company.
Billionaire Elon Musk issued a humorous late-night response to Twitter Inc.’s preparations to sue and force him to complete a $44 billion takeover of the company.
Eschewing any words of his own, the Tesla Inc. and SpaceX chief posted a meme late Sunday featuring images of himself laughing with captions recounting one version of events over the past few months. It conveys a lighthearted attitude from the world’s richest man to what has been a complex and expensive deal that’s weighed on Tesla shares and gone through several iterations of provisional funding.
Musk agreed to take Twitter private at a price of $54.20 per share in late April, after his acquiring a significant stake pushed the stock price up. Twitter shares traded at $36.81 on Friday, a third below the takeover deal’s price. Musk has expressed growing discontent about the deal and argued Twitter failed to disclose essential information, such as the specific number of fake and automated accounts on the service.
“The Twitter Board is committed 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,” Twitter Chairman Bret Taylor tweeted on Friday.
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