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Musk canceled the Twitter acquisition, claiming there was a “gap” in the deal. Businessman Elon Musk informed the US stock market regulator this Friday that he has canceled
Businessman Elon Musk informed the US stock market regulator this Friday that he has canceled the $44,000 million acquisition of Twitter, which he announced last April.
The situation stems from an alleged “gap” in the deal made by the tech company.
in a document sent by lawyers The billionaire, who reported Musk to Twitter’s legal department and published by the Securities Market Commission, claims that the technology company made “false and misleading” statements.
According to the document, something that happens when you sign the contract and also does not provide you with the information you need. Shares of the social network fell 6% at 17:41 local time (9:41 GMT) as soon as the cancellation of the purchase became known.
On the other hand, Twitter chairman Bret Taylor announced that the company’s Board of Directors will “take legal action to fulfill the purchase agreement” signed with Elon Musk last April.
Taylor’s announcement came minutes after the boss canceled the purchase deal.
In a tweet, Taylor said the company’s Board of Directors is “determined to close the deal on the price and terms set with Mr. It therefore announces legal action to the Delaware Court of Chancery, where major commercial litigation in the United States is settled.
Source: El Nacional
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