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Twitter calls Musk merger withdrawal 'invalid and wrongful'
Twitter calls Musk merger withdrawal 'invalid and wrongful'
Agence France-Presse
Published Jul 12, 2022 09:02 AM PHT
A close-up image showing the Twitter app on an iPhone in Kaarst, Germany, 08 November 2017 (reissued 08 January 2021). EPA-EFE/SASCHA STEINBACH
NEW YORK - Twitter demanded that Elon Musk complete a proposed $44 takeover of the social media company, slamming the Tesla chief's withdrawal of his offer as "invalid and wrongful."
"Twitter has breached none of its obligations under the Agreement," attorneys for Twitter said in a letter to Musk's lawyers that was included in a securities filing late Monday.
"Twitter demands that Mr. Musk and the other Musk Parties comply with their obligations under the Agreement, including their obligations to use their respective reasonable best efforts to consummate and make effective the transactions contemplated by the Agreement."
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