The world's richest man appears to have buyers remorse. Twitter's board vows to sue. Read the story here 👉
Twitter's board vowed to sue Elon Musk to have him follow through on the $44 billion deal he inked to by the San Francisco-based tech firm.Elon Musk backing out of his deal to buy Twitter sets the stage for litigation over a $1 billion breakup fee as well as harm done to Twitter's reputation and share price.Don't miss out on the headlines from Breaking News. Followed categories will be added to My News.
Musk's change of heart appeared to suggest some"buyer's remorse" for offering a price of $54.20 per share that now appears"laughable," CFRA Research senior equity analyst Angelo Zino said in a note to investors before the deal was officially nixed. "This soap opera has seen many twists and turns... this was always a head scratcher to go after Twitter at a $44 billion price tag for Musk and never made much sense to Street, now it ends in a Twilight Zone."
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