Tuesday, September 27, 2022

Musk merger withdrawal called “invalid and unlawful” by Twitter

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Elon Musk’s proposed $44 billion acquisition of Twitter was demanded by Twitter on Monday, condemning the Tesla CEO’s withdrawal of his offer as “invalid and unjust.”

Twitter’s lawyers said in a letter to Mr. Musk’s lawyers that was published in a securities filing late on Monday that “Twitter has breached none of its duties under the Agreement.”

Twitter requests that Musk and the other Musk Parties abide by their obligations under the Agreement, including their need to exercise their individual best endeavours in order to complete and put into effect the transactions envisioned by the Agreement.

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