Twitter hits back at Musk, says no deal obligations breached - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

In a letter sent to Musk, dated Sunday and filed with regulators on Monday, Twitter said it had not breached its obligations under the merger agreement as indicated by Musk on Friday for looking to end the deal.

Twitter is planning to file a lawsuit early this week in Delaware, people familiar with the matter told Reuters. Twitter’s shares ended down 11.3% at $32.65 on Monday, a 40% discount to Musk’s $54.20 bid and the biggest daily percentage drop in more than 14 months. They rose about 1% in extended trading.“Twitter’s board must contemplate the potential harm to its employee and shareholder base of any additional internal data exposed in litigation,” Benchmark analyst Mark Zgutowicz said.

Pileggi said if the number of fake accounts is many times higher than the 5% estimated by Twitter, it could lead to negotiations for a reduced price for the social media platform.

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