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Twitter Lawyers Up After Elon Musk Walks Away from $44 Billion Buyout Deal.  Tesla Founder’s Meme Response is Priceless

By Vlad Savov

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.

Elon Musk, founder of SpaceX and chief executive officer of Tesla Inc., arrives at the Axel Springer Award ceremony in Berlin, Germany, on Tuesday, Dec. 1, 2020. Tesla Inc. will be added to the S&P 500 Index in one shot on Dec. 21, a move that will ripple through the entire market as money managers adjust their portfolios to make room for shares of the $538 billion company.

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.

More stories like this are available on bloomberg.com

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