Poor after the market!Musk announced the termination of the acquisition of Twitter, and Twitter stated that he would sue to court

After more than two months of saliva battles, Musk announced the termination of the acquisition of social giants Twitter (Twitter).

On July 8th local time, Tesla CEO Elon Musk said that he would terminate the acquisition of Twitter because Twitter seriously violated multiple clauses in the agreement, including false accounts.

Musk said in a letter to Twitter's chief legal adviser that because Twitter was unwilling to share the information required by Musk, the acquisition was terminated, and the existing information proved that the current number of false accounts of Twitter far exceeds the company's external statement. quantity. Musk believes that Twitter has made false and misleading statements.

Musk's statement was not long this time, and Twitter immediately repeatedly stated that Musk was sued in court.

Twitter Chairman Bret Taylor said that the board of directors is committed to completing the transaction in accordance with the terms agreed with Musk, and plans to adopt a legal action to implement a consolidated agreement to win the lawsuit in the Hengping Court of Tella Hua Prefecture.

Musk has always asked Twitter to announce the number of false accounts. As early as May 17, Musk said that before Twitter CEO publicly proved that the false account on Twitter was less than 5%, he would not continue to acquire Twitter transactions. Essence According to Twitter's performance report, Twitter's false account accounts for less than 5 % of the total number of users.

On April 14, Musk issued a $ 44 billion invitation to Twitter. Only 10 days later, Twitter officials announced that Musk accepted Musk's privatization. On April 25, Twitter announced the consent of Musk's acquisition agreement, the latter will acquire Twitter at a price of about $ 44.2 per share. After the acquisition news was announced, Twitter's stock price rose to $ 54.57.

As the outside world had begun to discuss how Musk would transform Twitter, the uncertainty came one after another. During the period, Musk repeatedly issued negative remarks on Twitter, and counted it from the business model to the audit policy. After questioning the proportion of false accounts disclosed by Twitter, Musk put the transaction on hold. After a few weeks of deadlock, on June 8th, Twitter finally complained about Musk, saying that all Twitter users would provide data flow of tweets.

It is worth noting that as Twitter's stock price declines successively, the price difference between $ 54.2 per share given by Musk's previous share is continuing to expand. The stock price reflects that the market does not have a lot of confidence in the successful completion of the transaction. Many market participants speculate that Musk is likely to give up the $ 44 billion acquisition plan.

The New York Times has previously stated that Musk has been trying to withdraw from transactions or re -negotiate to obtain lower prices. US stock technology companies have been frustrated, including Musk's main wealth source Tesla. Since the transaction was announced on April 25, Twitter's stock price has fallen by nearly 30%, and Tesla's stock price has fallen by nearly 25%.

On the morning of June 16, local time, Musk conducted more than an hour of Q & A in a video form and more than 8,000 Twitter employees. This is the first time he said that he would communicate with employees after Twitter. The New York Times wrote that Musk's participation in this conference means that he is preparing to complete the heavy acquisition. At the exchange meeting, Musk did not mention whether it was the most concerned on the acquisition of the market for the acquisition of the transaction. And according to Bloomberg, no one was present to Musk.

As of July 8th, the US stocks closed, Twitter closed down 4.85%and closed at 36.91 US dollars, and once fell more than 12%after the market.

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