Twitter Board Pursuing Legal Action To Close Deal With Elon Musk

In an attempt to terminate Elon Musk’s acquisition agreement, the Twitter board is “committed to closing the transaction … and plans to pursue legal action to enforce the merger agreement” with Elon Musk.

The reason behind Elon Musk’s desire to terminate the Twitter acquisition agreement was revealed in the legal document that Musk sent to the SEC, he said the main reasons for this were:

1. Twitter platform has too many bots, spam accounts.
2. Twitter violated the agreement when it decided to fire two top Twitter employees along with several other employees and has frozen the hiring.

As Twitter has not provided the information Mr. Musk has requested for nearly two months, despite his repeated repeated detailed explanations, aimed at simplifying the identification, collection and disclosure of information Twitter’s most relevant news for his original claims.

Twitter board seeks to close transaction

In a tweet , Twitter president – Bret Taylor along with Twitter board feel dissatisfied with Elon Musk and are looking to close the transaction at the previously agreed price.

Will this incident affect the Crypto market?

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