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Twitter Plunges After Musk Says Company Has Materially Breached Deal Agreement

Tiger Newspress2022-06-06

Twitter stock slid over 6% in premarket trading.

Elon Musk, in letter to Twitter, says Twitter’s latest offer to simply provide additional details regarding its own testing methodologies is "tantamount to refusing" data requests.

"Based on Twitter’s behavior to date, and the company’slatest correspondence in particular, Mr. Musk believes the company is actively resisting and thwarting his information rights (and the company’s corresponding obligations) under the merger agreement," according to a letter from Musk's lawyers ina new 13D filing."This is a clear material breach of Twitter’s obligations under the merger agreement and Mr. Musk reserves all rights resulting therefrom, including his right not to consummate the transaction and his right to terminate the merger agreement."

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Comment10

  • vaicrazy
    ·2022-06-07
    Ok 
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  • calebxiong
    ·2022-06-06
    Like pls
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  • DarkFate
    ·2022-06-06
    Like 
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  • Dindindino
    ·2022-06-06
    Like pls
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  • Fiona888
    ·2022-06-06
    Ok
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  • Jas12345
    ·2022-06-06
    Omg
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  • goldenboy
    ·2022-06-06
    [Duh] 
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  • aprilialand
    ·2022-06-06
    No.
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  • HSTew
    ·2022-06-06
    Oh no, Not again. Elon Musk is trying twist and turn again. [Cool] 
    Reply
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  • Jamesmmk
    ·2022-06-06
    That's good news for Tesla share holders if really the deal to buy Twitter go south. 
    Reply
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