{"id":3481,"date":"2022-08-05T16:38:19","date_gmt":"2022-08-05T10:38:19","guid":{"rendered":"https:\/\/www.bnc24.com\/en\/?p=3481"},"modified":"2022-08-05T16:38:19","modified_gmt":"2022-08-05T10:38:19","slug":"twitter-says-elon-musk-making-up-excuses-to-breach-deal","status":"publish","type":"post","link":"https:\/\/www.bnc24.com\/en\/tech\/2022\/08\/05\/news\/3481\/","title":{"rendered":"Twitter says Elon Musk making up excuses to breach deal"},"content":{"rendered":"
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Twitter has rejected counter claims made by Elon Musk as he fights to walk away from the deal he inked in April to buy the San Francisco-based company. (Reuters File Photo)<\/figcaption><\/figure>\n

SAN FRANCISCO, USA, Broadcasting News Corporation : Twitter on Thursday said the notion Elon Musk was \u201choodwinked\u201d into inking a $44 billion buyout deal defies reason and the facts. In a filing, Twitter rejected counter claims made by Musk as he fights to walk away from the deal he inked in April to buy the San Francisco-based company. \u201cAccording to Musk, he \u2014 the billionaire founder of multiple companies, advised by Wall Street bankers and lawyers \u2014 was hoodwinked by Twitter into signing a $44 billion merger agreement,\u201d Twitter said. \u201cThat story is as implausible and contrary to fact as it sounds.\u201d Musk last week filed a countersuit along with a legal defense against Twitter\u2019s claim that the billionaire is contractually bound to complete the takeover deal. \u201cThe counterclaims are a made-for-litigation tale that is contradicted by the evidence and common sense,\u201d Twitter argued in the filing. A five-day trial that will consider Twitter\u2019s lawsuit against Musk has been scheduled for October 17. The Tesla boss wooed Twitter\u2019s board with a $54.20 per-share offer, but then in July announced he was ending their agreement because the firm had misled him regarding its tally of fake and spam accounts. Twitter, whose stock price closed at $41.06 on Thursday, has stuck by its estimates that less than 5 percent of the activity on the platform is due to software \u201cbots\u201d rather than people. Twitter told the court that Musk\u2019s claim that the false account figure tops 10 percent is \u201cuntenable.\u201d The company also disputed Musk\u2019s assertion that he has the right to walk away from the deal if Twitter\u2019s bot count is found to be wrong since he didn\u2019t ask anything about bots when he made the buyout offer. \u201cMusk forwent all due diligence \u2014 giving Twitter twenty-four hours to accept his take-it-or-leave-it offer before he would present it directly to Twitter\u2019s stockholders,\u201d the filing said. The company accused Musk of contriving a story to escape a merger agreement that he no longer found attractive. \u201cTwitter has complied in every respect with the merger agreement,\u201d the company said in the filing made to Chancery Court in the state of Delaware. \u201cMusk\u2019s counterclaims, based as they are on distortion, misrepresentation, and outright deception, change nothing.\u201d The social media platform has urged shareholders to endorse the deal, setting a vote on the merger for September 13. \u201cWe are committed to closing the merger on the price and terms agreed upon with Mr. Musk,\u201d Twitter chief executive Parag Agrawal and board chairman Bret Taylor said in a letter to investors. Billions of dollars are at stake, but so is the future of Twitter, which Musk has said should allow any legal speech \u2014 an absolutist position that has sparked fears the network could be used to incite violence. News collected from ARAB NEWS.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

SAN FRANCISCO, USA, Broadcasting News Corporation : Twitter on Thursday said the notion Elon Musk was \u201choodwinked\u201d into inking a $44 billion buyout deal defies reason and the facts. In a filing, Twitter rejected counter claims made by Musk as he fights to walk away from the deal he inked in April to buy the …<\/p>\n","protected":false},"author":2,"featured_media":3482,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-3481","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tech"],"_links":{"self":[{"href":"https:\/\/www.bnc24.com\/en\/wp-json\/wp\/v2\/posts\/3481","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bnc24.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bnc24.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bnc24.com\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bnc24.com\/en\/wp-json\/wp\/v2\/comments?post=3481"}],"version-history":[{"count":1,"href":"https:\/\/www.bnc24.com\/en\/wp-json\/wp\/v2\/posts\/3481\/revisions"}],"predecessor-version":[{"id":3483,"href":"https:\/\/www.bnc24.com\/en\/wp-json\/wp\/v2\/posts\/3481\/revisions\/3483"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bnc24.com\/en\/wp-json\/wp\/v2\/media\/3482"}],"wp:attachment":[{"href":"https:\/\/www.bnc24.com\/en\/wp-json\/wp\/v2\/media?parent=3481"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bnc24.com\/en\/wp-json\/wp\/v2\/categories?post=3481"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bnc24.com\/en\/wp-json\/wp\/v2\/tags?post=3481"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}