by Fred Fuld III
By now, you should have heard the news. Elon Musk, the head of Tesla (TSLA), has decided to cancel his acquisition of Twitter (TWTR).
Musk is claiming that Twitter is in material breach of multiple provisions of the agreement, and has also claimed that the company has more bot accounts than what Twitter claims it has.
Musk originally agreed to buy the company at $54.20 a share. Twitter stock is now down to 35.04 in after-market trading as of last Friday, July 8, 2022.
Do you want to see the actual letter dated July 8 that Elon Musk sent to Twitter’s chief legal officer through Musk’s attorney? Here is the link:
Elon Musk Letter from his Attorneys Canceling the Twitter Acquisition