Businessman Anand Mahindra has shared his views on the showdown between billionaire Elon Musk and Twitter Inc over a $44 billion acquisition deal. Mr Musk had announced he would buy the micro-blogging platform but the deal failed to materialise. Twitter has now sued Mr Musk asking a US court to order the world’s richest person to complete the merger at an agreed price of $54.20 per Twitter share. Mr Musk had terminated the agreement accusing Twitter of breaching the agreement by not responding to requests for information about fake accounts or spam.
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 and money. Twitter is an indispensable source of information and connectivity. Can it be run as a quasi-social enterprise – publicly listed, for-profit – but with a strong charter and managed by a board of directors with directors who act responsibly like the trustees?” asked the Chairman of the Mahindra Group.
What a waste of time, energy and money. Twitter is an indispensable source of news and connectivity. Can it be run as a quasi-social enterprise – listed, for-profit – but with a strong charter and managed by a board of directors with trustees who act responsibly as 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 take on the matter.
“Sir, you think from a typical business perspective. But Elon doesn’t,” one user commented.
“Sir, I am very curious and always wondering why we can’t develop an Indian social media platform used by the world. Like Facebook tweeter WhatsApp LinkedIn etc,” another tweeted.
The legal battle between Mr. Musk and Twitter will take place in the Delaware Court of Chancery, which is specified in the merger agreement for litigation.
Delaware is also a popular incorporation destination for most US public companies, including Tesla Inc and other Mr. Musk companies such as tunneling firm Boring Co and Space Exploration Technologies Corp, known as from SpaceX.
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