In a letter issued by Twitter’s legal representatives this weekend and released Monday, the company said Elon Musk’s move to terminate the $44 billion Twitter acquisition is “invalid and wrongful.”
The company, which has hired the law firm Watchell, Lipton, Rosen & Katz, states that it has breached none of its obligations under the agreement.
The letter is a response to news from Friday evening in which Musk aimed to terminate the $44 billion acquisition on account of a claim that there are too many spam and fake accounts on the platform.
William Savitt, who wrote the letter on behalf of Twitter, asserts that Twitter “will continue to provide information reasonably requested by Mr. Musk under the Agreement and to diligently take all measures required to close the transaction.”
This story is developing and will be updated as new information becomes available.
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About Author
Anushree covers how U.S. businesses and corporations are moving into crypto. She has written about business and tech for Bloomberg, Newsweek, Insider, and others. Reach out on Twitter @anu__dave
Source: https://www.theblock.co/post/156996/twitter-declares-musk-deal-termination-bid-invalid-in-new-letter?utm_source=rss&utm_medium=rss