• Elon Musk withdrew his $44 billion offer to purchase Twitter on Friday.
• This could result in Twitter filing a lawsuit against him.
• Musk mocked the threat with a Chuck Norris meme and the phrase “Chuckmate”, using the word ‘mature’.

Elon Musk has called off his Twitter deal and now he’s taunting the lawsuit threat with a Chuck Norris meme, declaring it “Chuckmate”.

After a protracted saga, Elon Musk withdrew his $44 billion offer to purchase Twitter on Friday (July 8, 2022). This could result in Twitter filing a lawsuit.

Twitter chairman Taylor Bretman tweeted: “The Twitter board is committed to closing the transaction on the price and terms agreed on with Mr Musk and plans to pursue legal action to enforce the merger agreement. We are confident we will prevail in the Delaware Court of Chancery.”

A “specific performance” clause in the agreement might compel the creator of SpaceX to buy the business at the agreed-upon price, provided he can find finance. According to The Guardian, he had funding in place as of May.

Despite being an enthusiastic tweeter, Musk has become more reserved after the takeover.

Bretman replied in a paragraph, but the Tesla CEO mocked the threat by using Chuck Norris and the phrase “Chuckmate.”

pic.twitter.com/d5tSnoDs5s

— Elon Musk (@elonmusk) July 11, 2022

Musk must pay a $1 billion termination fee, but given his $237.9 billion net worth, it won’t be a significant financial damage.

Twitter “failed or refused” to give the “data and information necessary ‘to make an independent assessment of the prevalence of fake or spam accounts on Twitter’s platform,” according to a letter Musk’s attorney addressed to Twitter’s chief legal officer on Friday.

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The billionaire asserted in May that 20% of the platform’s users are bogus or spam accounts without providing a source. He made it plain that the agreement would not be finalised unless Twitter could demonstrate that fewer than 5% of its daily active users are spam accounts.

This accounts for the other tweet Musk sent regarding the failed deal:

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pic.twitter.com/JcLMee61wj

— Elon Musk (@elonmusk) July 11, 2022

Musk previously highlighted the importance of identifying bots, calling it “fundamental to the financial health of Twitter”.

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Christopher Bouzy, founder of Bot Sentinel, a company that tracks bots on Twitter, said: “It’s important for Musk to have an accurate number of active, real legitimate users because that is important for advertisers and how to monetize these folks.”

So how do advertisers know what they’re getting for their money? This is fundamental to the financial health of Twitter.

— Elon Musk (@elonmusk) May 16, 2022