Posted in: Tattle, Technology

Musk’s withdrawal from Twitter deal sets stage for long court battle

Analysis: billionaire could be fined $1bn for walking away – and he risks new lawsuits and even his job, experts say

Elon Musk withdrew his $44bn bid to buy Twitter on Friday after a months-long saga that rankled investors and shook the market, kicking off what may be a long legal battle with the company.

The Twitter chair, Bret Taylor, said on Friday that the social media firm would sue in a Delaware court to enforce the deal. The deal included a “specific performance” clause, a provision that may force Musk to buy the company as long as he has financing in place. Musk in May said he had secured financing to complete the deal.

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