Elon is Preparing for the Unfortunate in the Twitter deal! Sells US$6.9B Tesla Stocks
Musk has sold nearly $6.9 Billion worth of shares in Tesla of his court battle with Twitter
Tesla and SpaceX CEO Elon Musk has sold nearly $6.9 Billion worth of shares in Tesla as the billionaire gets his finances in order ahead of his court battle with Twitter. Musk sold off more Tesla shares as he gears up for his court battle with social media company Twitter. Musk and Twitter agreed in April for the Tesla CEO to acquire the company for $44 billion. Musk wanted to pull out of the deal because the social media company was in “material breach” of their agreement. He disclosed in a series of regulatory filings that he unloaded about $6.9B Billion shares of his company Tesla Inc.
Elon Musk has sold nearly $6.9 Billion worth of shares in Tesla:
Musk reserves all rights resulting therefrom, including his right not to consummate the transaction and his right to terminate the merger agreement. Twitter Inc. reiterated that it will hold Elon Musk accountable for the terms of his proposed US$44 billion takeover offer after the billionaire again threatened to pull out of the deal over the issue of bots. Musk claimed that Twitter held back critical information and misled his team about the size of its user base.
Musk alleges that Twitter committed fraud, breach of contract, and violation of a securities law in Texas, where Musk lives. Musk on Twitter mentioned that In the hopefully unlikely event that Twitter forces this deal to close *and* some equity partners don’t come through, it is important to avoid an emergency sale of Tesla stock.
Musk offered to buy Twitter earlier this year, then tried to back out of the deal claiming the social platform was infested with a larger number of “spam bots” and fake accounts than Twitter had disclosed. Musk’s lawyers said he tried for nearly two months to obtain information about fake accounts on the platform, which he claimed Twitter never provided.
The post Elon is Preparing for the Unfortunate in the Twitter deal! Sells US$6.9B Tesla Stocks appeared first on .
Musk has sold nearly $6.9 Billion worth of shares in Tesla of his court battle with Twitter
Tesla and SpaceX CEO Elon Musk has sold nearly $6.9 Billion worth of shares in Tesla as the billionaire gets his finances in order ahead of his court battle with Twitter. Musk sold off more Tesla shares as he gears up for his court battle with social media company Twitter. Musk and Twitter agreed in April for the Tesla CEO to acquire the company for $44 billion. Musk wanted to pull out of the deal because the social media company was in “material breach” of their agreement. He disclosed in a series of regulatory filings that he unloaded about $6.9B Billion shares of his company Tesla Inc.
Elon Musk has sold nearly $6.9 Billion worth of shares in Tesla:
Musk reserves all rights resulting therefrom, including his right not to consummate the transaction and his right to terminate the merger agreement. Twitter Inc. reiterated that it will hold Elon Musk accountable for the terms of his proposed US$44 billion takeover offer after the billionaire again threatened to pull out of the deal over the issue of bots. Musk claimed that Twitter held back critical information and misled his team about the size of its user base.
Musk alleges that Twitter committed fraud, breach of contract, and violation of a securities law in Texas, where Musk lives. Musk on Twitter mentioned that In the hopefully unlikely event that Twitter forces this deal to close *and* some equity partners don’t come through, it is important to avoid an emergency sale of Tesla stock.
Musk offered to buy Twitter earlier this year, then tried to back out of the deal claiming the social platform was infested with a larger number of “spam bots” and fake accounts than Twitter had disclosed. Musk’s lawyers said he tried for nearly two months to obtain information about fake accounts on the platform, which he claimed Twitter never provided.
The post Elon is Preparing for the Unfortunate in the Twitter deal! Sells US$6.9B Tesla Stocks appeared first on .
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