Elon Musk says that Twitter is in “clear material breach” of their $44 billion acquisition deal and that he could “terminate” the agreement in response. Insent to Twitter this morning, Musk’s legal team claims that Twitter has failed to provide him with information on the service’s spam bot problem and that he’s entitled to receive that information under the deal agreement.
“Mr. Musk believes the company is actively resisting and thwarting his information rights under the merger agreement,” the lawyers write. The letter says Musk could choose “not to consummate the transaction” because of the alleged breach of contract.Musk has spent weeks complaining about the spam bot problem on Twitter in what has appeared to be a strange effort to escape a deal he signed barely more than a month ago.
But it wasn’t until today that Musk made an official threat to back out of the acquisition, with most of his prior complaints being made in tweets and interviews. Wedbush Securities analyst Daniel IvesTwitter spokesperson Brian Poliakoff said the company has been cooperating with Musk and will continue to share information.
blah blah blah blah FUD
How professional of them.. I only started this account because i saw a ray of free speech hope 😂
Tryna wriggle out of the deal without paying his $1B penalty. So beta
Don't worry, Elon. They didn't tell me about it either. :(
Or he should have done his due diligence before submitting an offer.
I just discovered through out Coded and modifiers. Where Tweeter comes from: Twitter was an Audio/Video selling also other items electronic items related to computation. Stores were closed permanently. Tweeter became a Net-Work & succeeded.
I'm beginning to believe that Musk had no attention at all of ever buying Twitter.
How is possible to work in tech and not know Twitter is filled with trolls and bots? Asking for a friend.
Scammer
lol he doesnt have the money to purchase so now making excuses like small child
I thought he waived due diligence? Sounds like he is getting ready to try to weasel out of the deal.
Is it possible he included a 'haha' at the end of his offer?
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Elon Musk threatens to call off $44B Twitter acquisitionDETROIT (AP) — Elon Musk is threatening to walk away from his $44 billion bid to buy Twitter, accusing the company of refusing to give him information about its spam bot accounts. Lawyers for the Tesla and SpaceX CEO made the threat in a letter to Twitter dated Monday. That letter was included in a filing from Twitter with the Securities and Exchange Commission.
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