Friday, August 19, 2022

Twitter vows legal fight after Musk pulls out of $44 billion deal

Twitter vows legal fight after Musk pulls out of $44 billion deal
July 9, 2022 Reuters

CALIFORNIA (Reuters) - Elon Musk, the chief executive officer of Tesla and the world's richest person, said on Friday he was terminating his $44 billion deal to buy Twitter because the social media company had breached multiple provisions of the merger agreement.

Twitter's chairman, Bret Taylor, said on the micro-blogging platform that the board planned to pursue legal action to enforce the merger agreement.