Elon Musk has notified Twitter the $44 billion buyout is off, citing “false and misleading representations”

Tesla and SpaceX founder Elon Musk has canceled his previously agreed $44 billion deal to buy Twitter, accusing the social media company of “material breach of multiple provisions” of the merger agreement in a letter on Friday evening.

Under the April 25 agreement, Twitter was obligated to provide Musk with the data he requested, in order to “make an independent assessment of the prevalence of fake or spam accounts on Twitter’s platform,” said the letter, sent by his attorneys to Twitter’s Chief Legal Officer Vijaya Gadde.

Musk called that information necessary to finance and plan the buy-out and “engage in transition planning” for the company, but Twitter “failed or refused” to provide it, the lawyers said. The company either ignored his requests, “rejected them for reasons that appear to be unjustified,” or claimed to comply while giving Musk “incomplete or unusable information,” according to the letter.

DETAILS TO FOLLOW

Leave a Reply

Your email address will not be published.

You May Also Like

«Я хочу, чтобы они просто жили. Мои дети». Вышел фильм Катерины Гордеевой «Человек и война». Жители Мариуполя, Киева, Бучи и других городов рассказывают, как Россия разрушила их жизнь

«Я хочу, чтобы они просто жили. Мои дети». Вышел фильм Катерины Гордеевой «Человек и война». Жители Мариуполя, Киева, Бучи и других городов рассказывают, как Россия разрушила их жизнь

Trump meets Hungarian friend

Trump meets Hungarian friend

Iraqi protesters storm parliament (VIDEOS)

Iraqi protesters storm parliament (VIDEOS)

Maksim Artemyev: Public opinion seems to be turning against the military draft in Ukraine, how will the Zelensky regime respond?

Maksim Artemyev: Public opinion seems to be turning against the military draft in Ukraine, how will the Zelensky regime respond?