After Elon Musk announced the end of his decision to buy the controversial deal he struck in April for $54.20 per share, or $44 billion in total, reports have emerged that Twitter has not told its employees about the merger. directed to refrain from making public comments. deal.
according to a report of ledge“Given that this is an ongoing legal matter, you should refrain from tweeting, slacking or sharing any comments regarding the merger agreement,” shared Twitter General Counsel Sean Edgett in a message to staff. The report further said that Twitter will share the information “when we are able to..”
While Twitter appears in a good position to win the court battle Elon Musk A breakup fee of over $1 billion and more, however, will not be free of the company from the ongoing fighting, according to reports. Twitter is reportedly considering legal action against Tesla and SpaceX CEO Elon Musk over its decision to terminate a USD 44 billion acquisition deal.
according to a ANI citing the report hillTwitter has hired New York-based law firm Wachtel, Lipton, Rosen & Katz LLP in an effort to sue Elon Musk. While Twitter will file its lawsuit in Delaware next week, Musk is being represented by the law firm Quinn Emanuel Urquhart & Sullivan.
Twitter President Brett Taylor said on Saturday: “The Twitter Board is committed to closing the transaction on the price and terms agreed with Mr. Musk and plans to take legal action to enforce the merger agreement. that we shall prevail in the Delaware Court of Chancery.”
Notably, Elon Musk sent a letter to Twitter announcing the termination of the USD 44 billion purchase deal which he reportedly settled due to multiple breaches of the purchase agreement. Musk’s team reported in their letter that Twitter’s proportion of spam and fake accounts is “extremely high” at 5 percent. “As described below, Mr. Musk is terminating the merger agreement because Twitter is in material breach of several provisions of that agreement,” the letter said.
“In short, Twitter has not disclosed that Mr. Musk has nearly provided information, despite its repeated, detailed explanation of the intent to facilitate Twitter’s identification, collection and disclosure of the most relevant information sought in Mr. Musk’s original requests.” Has requested for two months,” according to the letter.
(With inputs from ANI, The Verge)