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Musk, one step away from withdrawing his offer on Twitter

Elon MuskTesla CEO threatens to withdraw his offer to acquire Twitter, alleging that the social network’s current management is violating…

By admin , in news , at June 6, 2022

Elon MuskTesla CEO threatens to withdraw his offer to acquire Twitter, alleging that the social network’s current management is violating its obligations Provide necessary data about fake accountsAccording to a stock document disclosed on Monday.

Twitter has committed “a clear material breach of its obligations” under the merger agreement and Mr Musk reserves the right not to terminate the transaction and to terminate the merger agreement.

This is not the first time Musk has sought this information. Billionaire Elon Musk on May 17 demanded “evidence” from a Twitter address that Fake accounts in social networks are less than 5% of the total to proceed with the purchase of the company, once again casting doubts about the operation, which is valued at approx. $44 billion,

The process began on March 26, when the billionaire got in touch with Jack Dorsey, the former head of the company, to discuss the future of the social network. That same day he spoke with board member Egon Duban about the possibility of joining.

From there, Musk negotiated joining the board of directors of Twitter, a company in which he already had a significant stake, and when everything was ready to take that step, he changed his mind and informed the company of its intention to acquire and delist the same,

In the end, the Twitter board accepted a proposal initiated by Musk to take full control of the company.

Musk, one step away from withdrawing his offer on Twitter

2022-06-06 13:58:46