Twitter tumbled over 7% while Tesla rose nearly 1% in premarket trading after Musk sought to terminate merger agreement with Twitter.
Tesla (TSLA) Chief Executive Elon Musk notified Twitter (TWTR) that he is terminating his merger agreement with the social media website, according to a filing with the US Securities and Exchange Commission.
Twitter (TWTR) has hired merger-law experts Wachtell, Lipton, Rosen & Katz to represent the company as it sues Musk, who announced Friday he was backing out of a $44 billion takeover deal.
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