Twitter Bounced Back Nearly 3% in Morning Trading After Sending a Letter to Elon Musk Saying Effort to Terminate Deal Invalid and Wrongful

Tiger Newspress2022-07-12

Twitter bounced back nearly 3% in morning trading after sending a letter to Elon Musk saying effort to terminate deal invalid and wrongful.

The company sent a letter to Elon Musk saying his effort to abandon his $44 billion takeover is "invalid and wrongful" and that Twitter hasn't breached any of its obligations.

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Comments

All in Tesla
2022-07-13
All in Tesla
This is going to be a long battle
LiuJune
2022-07-13
LiuJune
Ok
Shirley Soh
2022-07-13
Shirley Soh
Great
robot1234
2022-07-13
robot1234
Twitter filed suit against Elon Musk in the Delaware Court of Chancery on Tuesday after the billionaire said he was terminating his $44 billion deal to buy the company. Twitter said that Musk’s conduct during his pursuit of the social network amounted to “bad faith” and it accused the Tesla CEO of acting against the deal since “the market started turning.” The outcome of the dispute could be unpredictable, legal experts say, and could involve a judge forcing Musk to complete the deal or forcing him to pay a $1 billion breakup fee, or other scenarios including a settlement, renegotiation of the purchase price, or even Musk walking away without paying anything. The suit claims that what Musk says about why he wants to terminate the deal, including the prevalence of bots on the service, are “
Fayedea
2022-07-13
Fayedea
Great
SanWangtikup
2022-07-13
SanWangtikup
Ok

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