Twitter responded to Musk’s notification about the termination of the merger agreement

MOSCOW, 30 Aug — PRIME. The social network Twitter responded to the second notice of the entrepreneur and founder of SpaceX and Tesla, Elon Musk, about the termination of the merger agreement on a number of additional grounds, follows from the US Securities and Exchange Commission (SEC) document.

Musk notifies Twitter of terminating merger agreement on new grounds

“As with your alleged termination notice dated July 8, 2022, the alleged termination set out in your letter dated August 29, 2022 is invalid and unlawful… It is based solely on third party statements that Twitter has previously stated, are replete with inconsistencies and inaccuracies and are devoid of important context,” the letter from representatives of the social network is cited in the document.

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It emphasizes that Twitter has not violated any of its statements or obligations under the agreement, has not experienced, and is unlikely to experience a material adverse change in circumstances. “Twitter intends to honor the agreement and complete the transaction at the price and terms agreed with Musk’s side,” the letter reads.

Earlier Tuesday, the U.S. Securities and Exchange Commission released a letter from Elon Musk’s representatives dated Aug. 29 to Twitter terminating the merger agreement on a number of additional grounds other than those previously outlined.

Musk’s spokesperson cites Twitter’s failure to comply with its obligations under the 2011 ruling and its general obligations regarding data privacy, unfair trading practices, and consumer protection laws and regulations as reasons for the termination. In addition, the document refers to the vulnerability of the social network to system failures, as well as misappropriation and violation of intellectual property rights of third parties by Twitter.

Twitter social network logo on mobile phone and computer screens

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In April, Musk offered $44 billion for Twitter, but then demanded to check the company’s data that the number of fake accounts used, among other things, to send spam, did not exceed 5%. According to Musk, the social network underestimated the number of such accounts, and also did not provide sufficient information when requested. He was also dissatisfied with the personnel policy of the company. And later, on July 8, Musk notified Twitter that he was refusing to buy it. The social network filed a lawsuit against the businessman in the Delaware Court of Chancery.

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American company Twitter Inc. was founded in 2006. The main product of the company is a social network for exchanging short messages. The headquarters is located in San Francisco, California.

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