Twitter demands Musk follows through on merger agreement

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Social media company plans to sue to force Tesla CEO to complete the deal

Wilmington — Twitter fired back at Elon Musk on Monday, accusing the world’s richest person of “knowingly” breaching an agreement to buy the social media firm, days after the Tesla chief sought to back out of the $44bn deal.

“Twitter demands that Mr Musk and the other Musk parties comply with their obligations under the agreement, including their obligations to use their respective reasonable best efforts to consummate and make effective the transactions contemplated by the agreement,” the letter said. Twitter said in the letter that the merger agreement remained in place, adding it would take steps to close the deal.

“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.

 

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