Twitter Inc., has asked a Delaware, Maryland, court to force billionaire businessman Elon Musk to honor his commitment to buy the company for $44 billion (€43.8 billion).
Twitter has asked the court to force Musk to make good on his contractual agreement to buy the company at $54.20 per share as previously agreed.
“Having mounted a public spectacle to put Twitter in play, and having proposed and then signed a seller-friendly merger agreement, Musk apparently believes that he — unlike every other party subject to Delaware contract law — is free to change his mind, trash the company, disrupt its operations, destroy stockholder value, and walk away,” said the filing.
“Musk refuses to honor his obligations to Twitter and its stockholders because the deal he signed no longer serves his personal interests,” the company said.
Twitter filed its lawsuit in the Delaware Court of Chancery, where Twitter and many other corporations are incorporated.
Musk announced on Friday that he was terminating the deal claiming Twitter had violated the agreement by failing to respond to requests for information regarding fake accounts on the platform.
