新2会员网址（www.hg108.vip）:Twitter slides after Musk's US$44bil deal falls apart
Elon Musk's Twitter account is seen on a smartphone in front of the Twitter logo in this photo illustration taken, April 15, 2022. REUTERS/Dado Ruvic/Illustration猎球者（www.99cx.vip）是一个开放皇冠体育网址代理APP下载、皇冠体育网址会员APP下载、皇冠体育网址线路APP下载、皇冠体育网址登录APP下载的官方平台。猎球者上足球分析专家数据更新最快。猎球者开放皇冠官方会员注册、皇冠官方代理开户等业务。
BENGALURU: Shares of Twitter Inc fell about 6% in premarket trading on Monday as a legal tussle between Elon Musk and the social media company is expected to take center stage after the world's richest person walked away from the $44 billion deal.
Musk, the chief executive officer of Tesla Inc, said on Friday he was terminating his deal to buy Twitter because the company had breached multiple provisions of the merger agreement.
Twitter is planning to sue Musk as early as this week and force him to complete the acquisition, people familiar with the matter told Reuters.
On Monday, Musk took a jab at Twitter's stance, tweeting that the legal battle would lead to the company disclosing information on bots and spam accounts in court. (https://bit.ly/3uCUPvd),
The series of tweets was Musk's first public response since the Friday announcement.
Twitter shares ended at $36.81 on Friday and were at a 32% discount to Musk's $54.20 bid, as they have been hit by a double whammy of a slump in the broader equity market and investor skepticism over the deal.
"We believe that Elon Musk's intentions to terminate the merger are more based on the recent market sell-off than... Twitter's 'failure' to comply with his requests," Jefferies analyst Brent Thill said in a note.
"In the absence of a deal, we would not be surprised to see the stock find a floor at $23.5."
The contract calls for Musk to pay Twitter a $1 billion break-up fee if he cannot complete the deal for reasons such as the acquisition financing falling through or regulators blocking the deal. The break-up fee would not be applicable, however, if Musk terminates the deal on his own. - Reuters