The other day, Elon Musk announced the suspension of the financial agreement as he awaits the count of the number of spam accounts.
American billionaire Elon Musk has decided to end the deal to acquire the social network Twitter. This was reported on Friday, July 8, by the American edition of CNBC, citing a letter Musk’s lawyer sent to Twitter’s chief legal officer.
Skadden Arps attorney Mike Ringler said “Twitter has failed to honor its contractual obligations.”
According to the lawyer, Twitter did not provide Musk with all the information he requested.
Musk had previously said he wanted to verify the social network’s claims about the number of fake accounts before making a deal.
The deal is valued at $ 44 billion, of which Musk has pledged to invest $ 33.5 billion in the purchase of Twitter, which will include $ 21 billion in equity and $ 12.5 billion in margin loans against some of its Tesla Inc (TSLA.O) partners. shares to fund transactions. Another $ 13 billion has been agreed to provide banks with the security of Twitter itself.
Following news of the buyout cancellation, Twitter shares fell 6% during extended trading.
Earlier, Elon Musk accused Twitter Inc. in breach of the merger agreement.
Recall that Tesla is preparing for the presentation of a working prototype of a humanoid robot – the humanoid robot Optimus.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.