July 12, 2022
Twitter has rejected Elon Musk’s claim that the company has violated its obligations under the merger agreement. In a letter to Musk filed with regulators on Sunday, the company urged the billionaire to abide by the merger agreement.
Twitter said in the letter that the merger agreement would remain in place, adding that it would take steps to complete the deal.
“Twitter demands that Mr. Musk and the other Musk Parties comply with their obligations under the Agreement, including their obligations to use their respective reasonable best efforts to consummate and make effective the transactions contemplated by the Agreement,” the letter said.
Twitter has announced that it is suing Elon Musk to force him to complete the deal. Twitter plans to file a lawsuit in Delaware this week.
Elon Musk announced he was terminating the deal to buy Twitter after the social media company failed to provide information about fake accounts on the platform.
In a filing with the U.S. Securities and Exchange Commission (SEC), Musk’s lawyers accused Twitter of failing to respond to multiple requests for information about fake accounts or spam accounts on the platform.
The sources for this piece include an article in Reuters.
