Elon Musk is now canceling the deal between him and Twitter, which makes the previous proceedings something which will soon be void of the upcoming venture that will change social media. The main reason remains unknown, but it still borders on Musk's complaints regarding the undisclosed number of bots from Twitter to the tech executive.
Elon Musk is Canceling the Twitter Deal
(Photo : Alexander Shatov on Unsplash)
Elon Musk is allegedly canceling the Twitter deal, and people with insider knowledge regarding the tech CEO's lead are available for everyone's knowledge and information. According to The Verge, there was a tweet from a Twitter chairperson that talked about the upcoming changes on the social media platform that follows this information.
The tech CEO is allegedly leaving the deal and is not pushing through with its goal to make the social media platform a private company, different from what it is now. With this, Musk is effectively transforming Twitter to its beginnings, where it became an outlet for people despite their diverse opinions and focus.
Read Also: Elon Musk's Twitter Deal: Bots Are the Problem, Not China - Is the Deal Pushing Through?
Elon Musk Twitter: Opting Out Now
Bret Taylor, Twitter Chairperson, said that the company intends to sell Twitter to Musk, and for the deal to continue with that, it offers to the tech CEO as part of the contract. However, something prevents the agreement from taking place despite the board's approval and the many preparations.
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. We are confident we will prevail in the Delaware Court of Chancery.
— Bret Taylor (@btaylor) July 8, 2022
One of them is Musk, and the other is the many disputes in its agreement.
Elon Musk and Free Speech
One may think that Elon Musk's quest towards achieving global free speech is coming to the world, but that is not quite the case as there is an unclear happening for the deal in the present. The public may only know of one problem that is famous to people, primarily as it previously blamed the bots for playing a massive role in its postponement of the acquisition.
However, that is only one of the three unresolved matters for Musk and his team regarding the Twitter deal.
The goal of this acquisition is for the supposed "free speech" online that would bring the old glory of Twitter back, and it focuses on providing the public with a platform without any bars. Musk said that it is still focusing on the censorship on the platform, but it would be available when Twitter becomes a private company under the tech CEO.
Musk has a lot for Twitter despite the company remaining as a public company that is different from what Musk envisioned for the platform once he was its leader. However, it is becoming more unclear for its future, especially as it has an update from a Twitter executive that the deal may be coming off soon, and it is facing a problem for all.
Related Article: Twitter Sale: Elon Musk Cancels Deal? Reports Claim CEO is Breaking Free, Venture 'in Peril'
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Written by Isaiah Richard
