Elon Musk ends Twitter acquisition, Twitter to take legal action to enforce merger agreement
In a letter to Twitter's chief legal counsel, Elon Musk stated that the termination was due to Twitter's unwillingness to share the information he had requested, and that the information that has been shared so far confirms his view that there are more robotic accounts on Twitter than the regulatory announcement claims.
Elon Musk said earlier that he wanted to evaluate Twitter's claim that about 5% of the platform's profitable daily active users were spam accounts, and he stressed that he would not acquire Twitter unless he could be sure that it had less than 5% of fake accounts, an aspect that he said was of great concern.
In response,![]()
![]()
Twitter Chairman Bret Taylor said that the board remains committed to completing the deal at the price agreed with Elon Musk and is confident that it will succeed in court by taking legal action to enforce the merger agreement as planned.
In response,
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
allen kidd : Elon should have thought about his concerns before he committed on buying Twitter. Once he announced that he was going to buy Twitter he vocally stated he was doing something and musk followers and people who use Twitter expect him to keep his word. He in one of the most influential people living today so he should stand by his word and not be so wishy washy. A chess player will look a certain amount of moves ahead of time to make sure they are making the right move to not get checkmated, I think Elon just got checkmated on this deal since he didn't think ahead of time.
Mcsnacks H Tupack allen kidd : Maybe he already won the game before anyone realized he was playing. Could have been a favor to keep Dorsey from going to jail for insider trading and Twitter from going bankrupt. I knew all along he wasn’t going to buy it. He’s going to release his own app like Twitter. This could all be free advertising for it.
allen kidd Mcsnacks H Tupack : idk, time will tell. I think he's gonna be stuck buying it tho.
Mcsnacks H Tupack allen kidd : Nope. Not with Twitter having admitted to using bots and putting out reports of misinforming investors about the number of members.
allen kidd Mcsnacks H Tupack : you might be right, I'm sure you have more knowledge in this than I do. I'm just stating I think he should stand by his word and before he lets investors on a certain direction he should make sure what he's saying matches his actions.
Dons hobby : Mr. T what do you think about IAUX ?
J L80 Mcsnacks H Tupack : I agree. I think Twitter will drop their suit, if not, they risk a counter suit and potential criminal charges for purposefully misstating acquisition information in order to gain from the transaction.
Falling angel allen kidd : well said
71363815 : Imo, Elon wanted the data Twatter couldn't provide so he pulled out. I'll get heat for that opinion but it is what it is.
Musk Fan OP allen kidd : Twitter is falling a little bit harder right now
View more comments...