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struggle4progress

(126,860 posts)
2. Translation: "I got sued when I tried to back out"
Thu Sep 7, 2023, 01:00 PM
Sep 2023
Musk Completes $44 Billion Deal to Own Twitter

By Kate Conger and Lauren Hirsch
Oct. 27, 2022

... Mr. Musk ... In April ... struck the deal to buy the company for $44 billion ...

But, within weeks, he began questioning the deal ...

By July, Mr. Musk had decided that he no longer wanted to own Twitter ... He announced his intent to abandon the acquisition.

Twitter sued Mr. Musk to force him to carry out the agreement ... Mr. Musk had agreed to personally provide roughly $33 billion of the $44 billion deal ...

But facing days of depositions and an uncertain outcome, Mr. Musk reconsidered ...

The judge overseeing Twitter’s lawsuit agreed to put the case on hold ... giving Mr. Musk three weeks to close the deal ...

https://www.nytimes.com/2022/10/27/technology/elon-musk-twitter-deal-complete.html

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