Elon Musk Sends Second Letter to Terminate Twitter Deal


Elon Musk despatched one more letter giving Twitter discover that he intends to cancel the deal.

In line with a submitting Monday with the Securities and Trade Fee (SEC), Musk’s authorized staff despatched the corporate one other letter after it challenged Musk’s unique cancellation letter. He initially agreed to buy the platform for $44 billion.

“Twitter has challenged the validity of the July 8 Termination Discover and contends that the Merger Settlement stays in drive, a place that the Musk Events are contesting,” the letter reads.

Musk’s staff mentioned that “allegations concerning sure details” present grounds for termination:

Allegations concerning sure details, identified to Twitter previous to and as of July 8, 2022, however undisclosed to the Musk Events previous to and at the moment, have since come to gentle that present extra and distinct bases to terminate the Merger Settlement. Though the Musk Events imagine this termination discover is just not legally essential to terminate the Merger Settlement as a result of they’ve already validly terminated it pursuant to the July 8 Termination Discover, the Musk Events are delivering this extra termination discover within the occasion that the July 8 Termination Discover is decided to be invalid for any cause.

Musk has lengthy questioned the accuracy of the variety of “bot” accounts disclosed by Twitter.

NewsBusters reported earlier within the month that Musk mentioned the Twitter deal would transfer ahead if Twitter merely supplied proof in regards to the variety of its “actual” accounts. 

“If Twitter merely supplies their technique of sampling 100 accounts and the way they’re confirmed to be actual, the deal ought to proceed on unique phrases,” Musk tweeted on the time. “Nevertheless, if it seems that their SEC filings are materially false, then it shouldn’t.”

He additionally responded to a query from a person asking whether or not the SEC was investigating Twitter.

“Good query, why aren’t they?” he requested

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Elon Musk despatched one more letter giving Twitter discover that he intends to cancel the deal. In line with a submitting Monday with the Securities and Trade Fee (SEC), Musk’s authorized staff despatched the corporate one other letter after it challenged Musk’s unique cancellation letter. He initially agreed to buy the platform for $44 billion. “Twitter…