Elon Musk sent a letter to Twitter's board seeking to end their $44 billion deal, citing a lack of info on bot accounts.
CEO Elon Musk departs from the justice center in Wilmington, Del., Tuesday, July 13, 2021.Elon Musk’s tumultuous $44 billion bid to buy Twitter is on the verge of collapse — after the Tesla CEO sent a letter to Twitter’s board Friday saying he is terminating the acquisition.
The possible unraveling of the deal is just the latest twist in a saga between the world’s richest man and one of the most influential social media platforms. Much of the drama has played out on Twitter, with Musk — who has more than 95 million followers — lamenting that the company was failing to live up to its potential as a platform for free speech.
In a letter to the Securities and Exchange Commission, Musk said Twitter has “not complied with its contractual obligations” surrounding the deal, namely giving Musk enough information to “make an independent assessment of the prevalence of fake or spam accounts on Twitter’s platform.” At first, Twitter offered Musk a seat on its board. But six days later, Twitter CEO Parag Agrawal tweeted that Musk will not be joining the board after all. His bid to buy the company came together quickly after that.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Elon Musk Calls It Quits on $44 Billion Twitter DealBREAKING: Elon Musk has tried to cancel his $44 billion bid to buy Twitter, according to a letter filed by his lawyers Friday.
Read more »
Elon Musk terminating $44 billion deal to buy Twitter; board says it will pursue legal actionMusk claimed in a regulatory filing Friday evening that he is ending the deal because Twitter is 'in material breach of multiple provisions' of the original agreement, which was signed in April.
Read more »
Elon Musk Says He's Terminating $44 Billion Twitter Buyout DealBREAKING: Elon Musk’s tumultuous $44 billion bid to buy Twitter is on the verge of collapse — after the Tesla CEO sent a letter to Twitter's board saying he is terminating the acquisition.
Read more »
Court docs reveal secret Elon Musk children with long-term Musk execMusk responded to the article on Twitter.
Read more »
Twitter lays off a third of its recruiting team amid Elon Musk takeover dramaInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Read more »