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%.
Modi Cabinet Decision On Farmers: The central government has made a big announcement for the farm
Bangladesh's first innings have been reduced to 227 runs in the second Test against India. In res
There was a ruckus in the missionary school in Guna for chanting 'Bharat Mata ki Jai'. Here the 7
Filmmaker Karan Johar is in the news these days for his series Love Stories. Now Karan is launchi
Adani Super App: Gautam Adani will present his app after 5G, this will be the work of the app
Adani Group App: Gautam Adani is the richest person in Asia. He surprised everyone by participati
Cyclone Biparjoy: The threat has increased in Gujarat due to cyclonic storm Biparjoy. Cyclone Bip
Haifa Port: Adani Group won the Haifa Port deal, and will remain in control till 2054
Asia's richest businessman Gautam Adani is now in the process of giving a new identity to his bus
India is the number-1 one priority of the US in terms of getting an American visa. According to U
With the onset of winter in the states of North India, smag has also started. Alam is that it is
Maharashtra Deputy Chief Minister Ajit Pawar has died in a plane crash. The accident occurred in
