Looming Musk-Twitter bout batters firm's shares

By Associated Press

Jul 13, 2022 12:20 am

NEW YORK CITY: Shares of Twitter slid more than 11 percent in the first day of trading after billionaire Elon Musk announced he was abandoning his $44-billion bid for the company, and the social media platform vowed to challenge him in court to uphold the agreement.

Twitter is now preparing to sue Musk in Delaware, where the company is incorporated. While the outcome is uncertain, both sides are preparing for a long court battle.

FIGHT AFTER DEAL FLIGHT This July 8, 2022 illustration photo shows Elon Musk’s Twitter page on a smartphone screen with a blurred Twitter logo in the background in Los Angeles. AFP PHOTO

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