Ometimes It Has Rejected Them For Reasons That Appear To Be Unjustified News Today : Breaking News, Live Updates & Top Stories | Vimarsana

HOUSTON, Texas - Tesla CEO Elon Musk announced Friday that he is pulling out of his USD44 billion deal to buy Twitter. "Mr. Musk is terminating the Merger Agreement because Twitter is in material breach of multiple provisions of that Agreement," Musk's attorney Mike Ringler said in a Securities and Exchange Commission (SEC) letter dated July 8. "(Twitter) appears to have made false and misleading representations upon which Mr. Musk relied when entering into the Merger Agreement, and is likely to suffer a Company Material Adverse Effect," it said. The termination cited a lack of information on bot accounts. "For nearly two months, Mr. Musk has sought the data and information necessary to 'make an independent assessment of the prevalence of fake or spam accounts on Twitter's platform,'" the letter goes on to say. "This information is fundamental to Twitter's business and financial performance and is necessary to consummate the transa ....

United States , Mike Ringler , Bret Taylor , Elon Musk , Exchange Commission , Delaware Court , Company Material Adverse Effect , Merger Agreement , Twitter Board , Exas Tesla Ceo Elon Musk Announced Friday That He Is Pulling Out Of His Usd44 Billion Deal To Buy Twitter Quot Mr Terminating The Merger Agreement Because In Material Breach Multiple Provisions , Uot Musk 39s Attorney Mike Ringler Said Ina Securities And Exchange Commission Sec Letter Dated July 8 Quot Twitter Appears To Have Made False Misleading Representations Upon Which Mr Relied When Entering Into The Merger Agreement , Nd Is Likely To Suffera Company Material Adverse Effect , Uot It Said The Termination Citeda Lack Of Information On Bot Accounts Quot For Nearly Two Months , R Musk Has Sought The Data And Information Necessary To 39 Make An Independent Assessment Of Prevalence Fake Or Spam Accounts On Twitter 39s Platform , 9 Quot The Letter Goes On To Say This Information Is Fundamental Twitter 39s Business And Financial Performance Necessary Consummate Transactions Contemplated By Merger Agreement Has Failed Or Refused Provide , Uot Ringler Said In The Sec Filing Quot Sometimes Twitter Has Ignored Mr Musk 39s Requests , Ometimes It Has Rejected Them For Reasons That Appear To Be Unjustified , Nd Sometimes It Has Claimed To Comply While Giving Mr Musk Incomplete Or Unusable Information Quot Twitter 39s Chairman Bret Taylor Sent Outa Tweet Following Announcement The Board Is Committed Closing Transaction On Price And Terms Agreed Upon With Plans Pursue Legal Action Enforce Merger Agreement , Uot Said Taylor Quot We Are Confident Will Prevail In The Delaware Court Of Chancery Depending On What Decides , Nder An Acquisition Agreement With Twitter , Usk At The Very Least Is On Hook Fora Usd1 Billion Termination Fee If Deal Not Completed Leading Up To His Unsolicited April 14 Offer Buy Social Media Platform For Usd54 20 Per Share , Usk Wasa Sharp Critic Of Twitter 39s Message Posting Practices And Described The Platform As An Important Forum For Free Speech Anadolu ,