Elon Musk has terminated his $44 billion deal to acquire social media giant Twitter.
PUBLISHED 5:40 PM ET Jul. 08, 2022Tesla CEO Elon Musk sent a letter to Twitter’s board saying he is terminating his $44 billion acquisition of the social media giant
But Twitter isn’t accepting Musk’s declaration. The chair of Twitter’s board, Bret Taylor, tweeted in response that the board is “committed to closing the transaction on the price and terms agreed upon with Mr. Musk and plans to pursue legal action to enforce the merger agreement. We are confident we will prevail in the Delaware Court of Chancery.”
On Friday, shares of Twitter fell 5% to $36.81, well below the $54.20 that Musk had offered to pay. Shares of Tesla, meanwhile, climbed 2.5% to $752.29.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Elon Musk informs Twitter he is terminating proposed $44B acquisition, SEC saysIs Elon Musk over Twitter?
Read more »
Elon Musk says he’s terminating $44B Twitter buyout dealElon Musk’s tumultuous $44 billion bid to buy Twitter is on the verge of collapse — after the Tesla CEO sent a letter to Twitter's board saying he is terminating the acquisition.
Read more »
Elon Musk wants to terminate $44B Twitter buyout dealIn a letter filed with the Securities and Exchange Commission on Friday, the billionaire wanted to pull out of the deal because the social media company was in “material breach” of their agreement.
Read more »
Elon Musk says he's terminating $44B Twitter buyout dealElon Musk’s tumultuous $44 billion bid to buy Twitter is on the verge of collapse — after the Tesla CEO sent a letter to Twitter’s board saying he is terminating the acquisition.
Read more »
Tesla CEO Elon Musk Officially Terminates $44 Billion Twitter Deal — Twitter Threatens Lawsuit – Bitcoin NewsElon Musk has terminated his $44 billion offer to buy Twitter, alleging that 'Twitter is in material breach of multiple provisions' of the agreement. ElonMusk
Read more »