New Delhi: Tesla CEO Elon Musk, the world’s richest man, has canceled his plan to buy Twitter. There are different opinions about this. Meanwhile, Mahindra Group chairperson and Padma awardee Anand Mahindra slams Elon Musk calls him “Ticketless passenger” traveling in the Indian railways.
Anand Mahindra, reacting to the news of scrapping the deal on Twitter, wrote – If Elon was traveling by an Indian train, the ticket conductor would label him ‘Ticketless Traveler’. But now TT can also be used in the headline of any news to attract people’s attention like this one Twitter Tease.
Tesla Inc. CEO Elon Musk made an offer to buy Twitter on April 25 for $ 54.20 billion. Later this deal was settled at $ 44 billion. Now Elon Musk has canceled this deal on his behalf. Elon Musk says that Twitter has violated many provisions of the deal agreement, so he is withdrawing from this deal.
Elon Musk’s lawyer says, ‘Mr. Musk is canceling this merger. They are doing this because Twitter has breached the agreements made with them. Twitter has made false and misleading representations to Elon Musk and Elon Musk relied on it during the merger.
At the same time, Twitter is also seen preparing to do two hands with Elon Musk in this matter. Clouds of crisis were hovering over this deal from the very beginning. Sometimes shareholders, sometimes bots and most of all Musk himself was becoming the reason for the breakdown of this deal. Musk had already put the deal on hold regarding bots. After the cancellation of the deal, Twitter is preparing for legal action against Musk.
Twitter employees were already skeptical about the deal with Musk. Employees were not happy with Elon’s decision to cut costs, reduce headcount and content moderation. The special thing about this deal is that despite its cancellation, Elon Musk will have to pay a penalty of $ 1 billion, or $ 1 billion. According to the rules related to big deals in America, if either Twitter or Elon Musk backs out of this deal, then he will have to pay a penalty of one billion dollars to the other party.
Twitter CEO Brett Taylor has stated that the company is dedicated to closing the acquisition agreement at the price and parameters agreed upon by Musk.
On July 9, he tweeted, “(The company) intends to initiate legal action to enforce the merger agreement.” “We are confident in our ability to triumph in the Delaware Court of Chancery.”