Elon Musk has announced he's abandoning his $44-billion offer to buy Twitter after the company failed to provide enough information about the number of fake accounts. Twitter fired back, saying it would sue the Tesla chief executive to uphold the deal.
Elon Musk announced Friday that he would abandon his tumultuous $44-billion offer to buy Twitter after the company failed to provide enough information about the number of fake accounts. Twitter immediately fired back, saying it would sue the Tesla chief executive to uphold the deal.
“Twitter has failed or refused to provide this information. 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 letter said. “This is a disaster scenario for Twitter and its board,” Wedbush analyst Dan Ives wrote in a note to investors. He predicted a long court fight by Twitter to either restore the deal or get a $1-billion breakup fee.
One of the chief reasons Musk gave for his interest in taking Twitter private was his belief he could add value to the business by getting rid of its spam bots — the same problem that he’s now citing as a reason to end the deal. Musk’s lawyer also alleged that Twitter broke the agreement when it fired its revenue product leader and general manager of consumers and laid off a third of its talent acquisition team.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Elon Musk terminating $44 billion deal to buy Twitter; board says it will pursue legal actionMusk claimed in a regulatory filing Friday evening that he is ending the deal because Twitter is 'in material breach of multiple provisions' of the original agreement, which was signed in April.
Les mer »
Elon Musk seeks to terminate $44 billion bid for TwitterElon Musk sent a letter to Twitter's board seeking to end their $44 billion deal, citing a lack of info on bot accounts.
Les mer »
Elon Musk says he’s terminating $44 billion Twitter buyout dealElon Musk’s tumultuous $44 billion bid to buy Twitter is on the verge of collapse — after the Tesla CEO sent a letter to Twitter’s board Friday saying he is terminating the acquisition.
Les mer »
Elon Musk aims to terminate $44 billion Twitter dealMusk is citing a disagreement with Twitter over the number of fake accounts on the platform.
Les mer »
Elon Musk terminating $44 billion deal to buy Twitter; board says it will pursue legal actionMusk claimed in a regulatory filing Friday evening that he is ending the deal because Twitter is 'in material breach of multiple provisions' of the original agreement, which was signed in April.
Les mer »
Elon Musk terminating $44 billion deal to buy Twitter; board says it will pursue legal actionMusk claimed in a regulatory filing Friday evening that he is ending the deal because Twitter is 'in material breach of multiple provisions' of the original agreement, which was signed in April.
Les mer »