Businessman Anand Mahindra has shared his view on the showdown between billionaire Elon Musk and Twitter Inc over $44 billion acquisition deal. Mr Musk had announced that he will buy the micro-blogging platform but the deal could not materialise. Twitter has now sued Mr Musk asking a court in the United States to order the world’s richest person to complete the merger at the agreed $54.20 per Twitter share. Mr Musk had terminated the deal accusing Twitter of violating agreement by failing to respond to requests for information regarding fake or spam accounts.
Reacting to the development, Mr Mahindra said in a tweet on Thursday that it was a waste of time, energy and money.
“What a waste of time, energy & money. Twitter is an indispensable source of news & connectedness. Can it be run like a quasi social enterprise-listed, for profit-but with a strong charter & managed by a board with directors who act responsibly like trustees?” the Mahindra Group Chairman asked.
What a waste of time, energy & money. Twitter is an indispensable source of news & connectedness. Can it be run like a quasi social enterprise—listed, for profit—but with a strong charter & managed by a board with directors who act responsibly like trustees? https://t.co/jXqyz9ABPu— anand mahindra (@anandmahindra) July 14, 2022
The tweet received more than 1,600 likes and 121 retweets, with Mr Mahindra’s followers giving their own perspective on the issue.
“Sir, You are thinking in a typical business perspective. But Elon doesn’t,” a user commented.
“Sir I m very curious and always wonder why we cannot develop an Indian social media platform used by the globe. Like Facebook tweeter WhatsApp LinkedIn etc,” tweeted another.
The legal battle between Mr Musk and Twitter will play out in Delaware’s Court of Chancery, which is specified in the merger agreement for disputes.
Delaware is also a popular incorporation destination for most US public companies, including Tesla Inc and other companies of Mr Musk such as tunneling venture the Boring Co and Space Exploration Technologies Corp, known as SpaceX.
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