Twitter slams Elon Musk, says what he did was 'invalid and wrong'
Categories: US NEWS
The social media giant has pulled up the world's richest manafter the CEOsof Teslaand SpaceX pulled out of a multi-million dollar deal to buy microbloggingsite Twitter. On Monday (July 11), Twitter demanded that Musk shouldcomplete the proposed $44 acquisition. It further said that Musk's withdrawalfrom the deal is "invalid and incorrect". In a letter, lawyers forTwitter told Musk's lawyers.
"Twitterhas not violated any of its obligations under the Agreement."It said, "Twitter demands that Mr. Musk and the other Musk parties complywith their obligations under the Agreement, including their obligations to usetheir respective reasonable best efforts to carry out and give effect to thetransaction required by the Agreement" Are included."
The company plans to sue Musk to force him to complete thedeal. According to reports, the company may file a lawsuit in Delaware as earlyas this week. In the letter, Twitter said the merger agreement remained in place. Thethreat appeared to be amusing to Musk as he was laughed at on Monday using aseries of tweets.
He made fun of Twitter and its threats. Last week, Musk sentTwitter a letter saying he was pulling out of the controversial deal he struckin April to buy the platform for $54.20 per share, or $44 billion in total.Shares of Twitter ended down 11.3% at $32.65, a 40% discount on Musk's $54.20bid and the biggest daily percentage drop in more than 14 months. He reboundedless than 1% in extended trading. Tesla shares closed down nearly 7%.