Tesla billionaire Elon Musk has responded to Twitter’s warning to sue him, with a series of photos of himself laughing.
Jonathan Compton, Head of Dispute Resolution at city law firm DMH Stallard, said: “This type of contract is usually drafted specifically to rule out termination for loss or change in value of the target company.
“Normally we would be looking for some type of active misrepresentation by the target company of material impact to the value of the deal.
“So the bar is a high one, but Elon Musk has jumped some high bars before.”
— Elon Musk (@elonmusk) July 11, 2022
It comes after Musk told Twitter on Friday that he is terminating the deal, citing concerns over the number of spam accounts on the social media platform.
Twitter’s chairman, Bret Taylor, responded with a tweet stating that the company intended to “pursue legal action to enforce the merger agreement”.