{"id":1984,"date":"2022-06-06T15:44:41","date_gmt":"2022-06-06T15:44:41","guid":{"rendered":"https:\/\/sasquatchnewsonline.com\/?p=1984"},"modified":"2022-06-06T15:44:41","modified_gmt":"2022-06-06T15:44:41","slug":"breaking-elon-musk-threatens-to-end-twitter-takeover-bid-due-to-material-breach-by-the-social-media-giant","status":"publish","type":"post","link":"https:\/\/sasquatchnewsonline.com\/?p=1984","title":{"rendered":"BREAKING: Elon Musk Threatens To End Twitter Takeover Bid Due To \u201cMaterial Breach\u201d By The Social Media Giant"},"content":{"rendered":"

Elon Musk<\/span><\/a>\u00a0has threatened to pull out of his deal to purchase\u00a0<\/span>Twitter<\/span><\/a>\u00a0as he accuses the social media giant of \u201cresisting and thwarting\u201d his right to information about spam and fake accounts on the platform.<\/span><\/p>\n

In a\u00a0<\/span>letter to Twitter<\/span><\/a>\u00a0on Monday, Musk\u2019s attorney argued that Musk\u2019s purchase agreement mandates the platform to provide the requested data in full.<\/span><\/p>\n

He has alleged that Twitter is in a \u201cclear material breach\u201d of its obligations and \u201creserves all rights\u201d to terminate the merger agreement.\u00a0<\/span><\/p>\n

The letter further refutes the company\u2019s claim that it is only required to provide information for closing the deal\u2019s \u201climited purpose. \u201d\u00a0<\/span><\/p>\n

\u201cMusk is entitled to seek, and Twitter is obligated to provide, information and data for, inter alia, any reasonable business purpose related to the consummation of the transaction,\u201d the letter states.\u00a0<\/span><\/p>\n

\u201cMusk believes Twitter is transparently refusing to comply with its obligations under the merger agreement, which is causing further suspicion that the company is withholding the requested data due to concern for what Musk\u2019s own analysis of that data will uncover,\u201d it continues.<\/span><\/p>\n

In March,\u00a0<\/span>Musk stated<\/span><\/a>\u00a0he would put the deal \u201ctemporarily on hold\u201d while he waited for the company to provide data on the proportion of its fake accounts.<\/span><\/p>\n

Musk successfully won a bid to purchase the company in April.\u00a0<\/span><\/p>\n

According to a\u00a0<\/span>press release<\/span><\/a>, \u201cTwitter, Inc. (NYSE:\u00a0<\/span>TWTR<\/span><\/a>) today announced that it has entered into a definitive agreement to be acquired by an entity wholly owned by Elon Musk, for $54.20 per share in cash in a transaction valued at approximately $44 billion. Upon completion of the transaction, Twitter will become a privately held company.\u201d<\/span><\/p>\n

Board Chairman Bret Taylor said, \u201cThe Twitter Board conducted a thoughtful and comprehensive process to assess Elon\u2019s proposal with a deliberate focus on value, certainty, and financing. The proposed transaction will deliver a substantial cash premium, and we believe it is the best path forward for Twitter\u2019s stockholders.\u201d<\/span><\/p>\n

The post BREAKING: Elon Musk Threatens To End Twitter Takeover Bid Due To \u201cMaterial Breach\u201d By The Social Media Giant<\/a> appeared first on The Gateway Pundit<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Elon Musk\u00a0has threatened to pull out of his deal to purchase\u00a0Twitter\u00a0as he accuses the social media giant of<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-1984","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"\nBREAKING: Elon Musk Threatens To End Twitter Takeover Bid Due To \u201cMaterial Breach\u201d By The Social Media Giant - Sasquatch News Online<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sasquatchnewsonline.com\/?p=1984\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BREAKING: Elon Musk Threatens To End Twitter Takeover Bid Due To \u201cMaterial Breach\u201d By The Social Media Giant - 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