Elon Musk Sends Second Letter to Terminate Twitter Deal

August 30th, 2022 7:53 PM

Elon Musk sent yet another letter giving Twitter notice that he intends to cancel the deal.

According to a filing Monday with the Securities and Exchange Commission (SEC), Musk’s legal team sent the company another letter after it challenged Musk’s original cancellation letter. He originally agreed to purchase the platform for $44 billion.

“Twitter has challenged the validity of the July 8 Termination Notice and contends that the Merger Agreement remains in force, a position that the Musk Parties are contesting,” the letter reads.

Musk’s team said that “allegations regarding certain facts” provide grounds for termination:

Allegations regarding certain facts, known to Twitter prior to and as of July 8, 2022, but undisclosed to the Musk Parties prior to and at that time, have since come to light that provide additional and distinct bases to terminate the Merger Agreement. Although the Musk Parties believe this termination notice is not legally necessary to terminate the Merger Agreement because they have already validly terminated it pursuant to the July 8 Termination Notice, the Musk Parties are delivering this additional termination notice in the event that the July 8 Termination Notice is determined to be invalid for any reason.

Musk has long questioned the accuracy of the number of “bot” accounts disclosed by Twitter.

NewsBusters reported earlier in the month that Musk said the Twitter deal would move forward if Twitter simply provided proof about the number of its “real” accounts. 

“If Twitter simply provides their method of sampling 100 accounts and how they’re confirmed to be real, the deal should proceed on original terms," Musk tweeted at the time. "However, if it turns out that their SEC filings are materially false, then it should not.”

He also responded to a question from a user asking whether the SEC was investigating Twitter.

“Good question, why aren’t they?” he asked

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