New York- “The bird is freed,” billionaire Elon Musk tweeted on Friday after completing the whopping USD 44 billion takeover of Twitter and firing the social media giant’s four top executives, including CEO Parag Agrawal and legal executive Vijaya Gadde.
through with the agreement, alleging that the company failed to adequately disclose the number of spam and fake accounts on the service.
When Musk said he was terminating the deal, Twitter sued the billionaire, alleging he “refuses to honour his obligations to Twitter and its stockholders because the deal he signed no longer serves his personal interests.”
Earlier in October, Musk said he wanted to pursue his acquisition of Twitter at the original price of USD 54.20 a share if the social messaging service dropped its litigation.
Twitter’s lawyers said that the Tesla CEO’s “proposal is an invitation to further mischief and delay.”
A Delaware Chancery Court judge eventually ruled that Musk had until October 28 to cement the Twitter deal or head to trial.
On Thursday, Musk wrote a message to reassure advertisers that social messaging services wouldn’t devolve into “a free-for-all hellscape, where anything can be said with no consequences!”
“The reason I acquired Twitter is because it is important to the future of civilization to have a common digital town square, where a wide range of beliefs can be debated in a healthy manner, without resorting to violence,” Musk said in the message.
“There is currently great danger that social media will splinter into far-right wing and far left-wing echo chambers that generate more hate and divide our society.”
The social media platform’s shares will be suspended from trading on Friday, according to the New York Stock Exchange’s website.
