Elon Musk says he is terminating $44 billion Twitter deal

Editado por Ed Newman
2022-07-09 15:22:59

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​Twitter’s chairman says the social media platform will take legal action to enforce the agreement.​

New York, July 9 (RHC)-- Elon Musk has said he is terminating a $44 billion deal to buy Twitter, saying the social media company did not provide information about fake or spam accounts on the platform.

In a filing to the Security and Exchange Commission (SEC) on Friday, Musk’s lawyers said Twitter had failed or refused to respond to multiple requests for information on those accounts, which is fundamental to the company’s business performance.

“Sometimes Twitter has ignored Mr. Musk’s requests, sometimes it has rejected them for reasons that appear to be unjustified, and sometimes it has claimed to comply while giving Mr. Musk incomplete or unusable information,” the filing reads.

“Twitter is in material breach of multiple provisions of that Agreement, appears to have made false and misleading representations upon which Mr. Musk relied when entering into the Merger Agreement,” it also said.

Twitter did not immediately respond to requests for comment from The Associated Press and Reuters news agencies.

The company’s chairman, Bret Taylor, tweeted on Friday evening: “The Twitter Board is committed to closing the transaction on the price and terms agreed upon with Mr. Musk and plans to pursue legal action to enforce the merger agreement.”

The terms of the deal require Musk, the CEO of Tesla, to pay a $1 billion break-up fee if he does not complete the transaction.



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