In early April this year, Elon Musk became one of Twitter's shareholders. According to the concluded agreement, however, he was to promise that he would not decide to buy all Twitter shares from other investors. The situation changed after more than two weeks, when Elon Musk made a very attractive financial proposal to all Twitter shareholders. He proposed an amount of 54.20$ per share. Ultimately, the offer was accepted, and the entire contract was valued at 44 billion of dollars. For this amount, Musk was to become the owner of Twitter. Ultimately, however, Musk wants to withdraw from this transaction.
According to Musk, the key factor influencing his decision is the unrealistic representation of the number of Twitter accounts responsible for spam. A special audit is carried out on this matter. Due to the suspension of the contract, Twitter's management board has announced that it will take legal action in this matter. The case can be very costly, as under the agreement, Elon Musk may be required to pay damages of up to 1 billion of dollars in the event that the contract for the sale of Twitter shares is not finalized.