07-12-2022, 04:58 PM
- Twitter’s lawyers said in a letter on Monday that Elon Musk’s effort to terminate the acquisition is “invalid and wrongful.”
- Since agreeing to buy Twitter earlier this year, Musk has been trying to get out of the deal.
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Twitter said Monday in a letter that Elon Musk’s bid to terminate his proposed $44 billion acquisition of the social media company is “invalid and wrongful.”
The letter, addressed to Musk’s lawyers, followed the Tesla CEO’s declaration on Friday that he plans to scrap the deal over allegations that Twitter undercounts the number of spam accounts on its service, among other reasons.
Musk’s attorneys claimed in Friday’s letter that Twitter breached its obligations related to the acquisition by allegedly failing to provide Musk with the information necessary to calculate the number of spam accounts on the service.
However, Twitter attorney William Savitt of the law firm Wachtell, Lipton, Rosen & Katz wrote in Monday’s letter that “Twitter has breached none of its obligations under the Agreement.”
Savitt said Twitter the agreement remains in effect.
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