Twitter vows legal fight after Elon Musk cancels a $44 billion deal

TeknikalRaman

Money & Finance

POSTED BY: Ranjeet Kumar PUBLISHED: 9th July, 22

Elon Musk, the CEO of Tesla and the richest man in the world, said on Friday that he was cancelling his $44 billion offer to acquire Twitter.

Credit : Pexels

because the social media company had broken a number of the merger agreement's clauses.

Credit : Pexels

Bret Taylor, the chairman of Twitter, said on the microblogging site that the board intended to file a lawsuit to enforce the merger deal.

Credit : Pexels

The Twitter Board is dedicated to completing the transaction under the terms and conditions set forth in the agreement with Mr. Musk, he wrote.

Credit : Pexels

Due to Musk's decision, the 16-year-old San Francisco-based business and the billionaire are expected to engage in a protracted court battle.

Credit : Pexels

Musk's lawyer said in a lawsuit that Twitter had ignored or refused to reply to many requests for information on fraudulent or spam accounts.

Credit : Pexels

"Twitter appears to have made false and deceptive assertions on which Mr. Musk relied, and is in serious breach of various sections of the Agreement.

Credit : Pexels

IF YOU WANT TO KNOW MORE ABOUT What is Meghan Markle Net Worth? VISIT OUR SITE

TeknikalRaman

Finance & Business

POSTED BY: Ranjeet Kumar  PUBLISHED: July 09, 22