The president of Tesla and SpaceX, the billionaire Elon Musk, announced his decision to withdraw the purchase offer from the social network Twitter for 44,000 million dollars, accusing the company of having provided “misleading” information about the company.
“Mr. Musk exercises (the) right to terminate the acquisition agreement and abandons the transaction“, indicated their lawyers in a note published on the same social network.
The counterattack of major shareholders Twitter did not wait and, after Musk’s announcement, they said that they will initiate a lawsuit against the billionaire to enforce the purchase agreement.
Musk’s representatives claim that Twitter did not respect the commitments assumed in the acquisition agreement for 44,000 million dollarsto the “not provide all the requested information about the number of fake accounts on the platform”, I detail the letter published by the US stock market authorities (SEC), according to cables from the AFP and Sputnik agencies
Last April, Musk reached a takeover deal with Twitter at $54.20 per share in a transaction valued at roughly $44 billion.
Last month, the billionaire announced the suspension of the purchase of Twitter for “very significant” issues, about the number of fake users in the blue bird network.
“We are still waiting for a resolution of this matter, which is really significant,” Musk said via video link, saying he also had questions about the company’s debt.
In the original agreement signed between the parties agreed to compensation in case of non-compliance with the agreementwhich can reach 1,000 million dollars.
