Tesla CEO and world's richest man Elon Musk canceled the Twitter purchase deal on Friday. While closing the deal worth $ 44 billion (Rs 3.37 lakh crore), Musk said - the company has failed to provide data related to fake or fake Twitter accounts on its platform.
At the same time, Twitter board chairman Brett Tylow has said that we will go to court to implement the agreement. Twitter shares fell 6% after Musk canceled the deal.
Musk may have to pay $1 billion
According to the purchase agreement between Twitter and Musk, if the deal is canceled, then under the conditions, Musk will have to pay a break-up fee of $ 1 billion (7.9 thousand crores), but Musk will only pay the break-up fee. Can't escape by giving
The agreement includes a provision that could compel Musk to complete the deal. This means that Musk and Twitter may now have a protracted legal battle.
Musk had earlier said about withdrawing the deal
Just last month, Musk threatened to withdraw the deal if it was not proven that less than 5% of Twitter's total users had spam accounts. Musk's lawyer said that information about fake or spam accounts was sought on the Twitter platform, which was not answered or denied. Twitter violated the terms of the agreement and provided false information.
The condition was to bring down the number of fake accounts below 5%
Elon Musk's condition was that Twitter should reduce spam and fake accounts from its platform to below 5%. Twitter, on the other hand, had said that it was deleting 1 million spam accounts daily. Musk had been complaining for months that Twitter was underreporting the number of these accounts included in the user base.
However, the company has denied Musk's claim, saying that the number of fake accounts is less than 5% of the total number of users. Musk believes that the number of spam accounts on Twitter is more than 5%.
The time has come to bid farewell to the year 2022. The new year is ready to enter. In such a sit
The Israeli army has claimed that its troops have surrounded Gaza City from all sides. Israeli PM
Gangster Lawrence Bishnoi has openly threatened Salman Khan. He has also taken responsibility for
'PM Modi preaches consensus, but also increases conflict'; Sonia Gandhi attacks in article.
Congress leader Sonia Gandhi has targeted PM Modi with one of her articles. In an editorial writt
The makers of Bhool Bhulaiyaa 3 released the teaser of the film on Friday, September 27. The teas
The Bhagwant Mann government of Punjab has appointed Aam Aadmi Party leader and state in-charge R
Sonu Sood, the star of Bollywood and South films, came forward as a messiah for the needy during
Inflation: Growth rate of service sector lowest in four months due to high inflation
The pace of activity in the country's services sector slowed down to a four-month low in July thi
Congress leader Rahul Gandhi has received many congratulatory messages on his 54th birthday. From
‘My Hyderabadi brother, stay there only…’ Deputy CM Devendra Fadnavis attacked AIMIM chief Owaisi.
Maharashtra Deputy CM Devendra Fadnavis has once again targeted All India Majlis-e-Ittehadul Musl
