[CNMO News] On August 30, it was reported that Musk’s advisers officially sent a termination letter to Twitter, formally notifying the termination of the agreement. As of press time, Twitter was down about 3% before the market opened, and Tesla was up more than 2% before the mark

[CNMO News] On August 30, it was reported that Musk’s advisors officially sent a termination letter to and Twitter , formally notifying the agreement of termination. As of press time, Twitter has fallen by about 3% before the market opens, and and Tesla have risen by more than 2% before the market opens.

Musk

The dispute between Musk and Twitter is really endless for three days and three nights. Around April this year, Musk quietly acquired 9.2% of Twitter's shares and became Twitter's largest shareholder. Just when everyone was surprised, Musk proposed to acquire Twitter for US$54.20 per share in cash (a total price of approximately US$43 billion). After acquiring Twitter, Musk wanted to transform Twitter into a private company.

Musk officially informed of the termination of the acquisition of Twitter

Just when everyone thought that Twitter would severely refuse, Twitter reluctantly agreed after a little hesitation. At the end of April, Twitter's board of directors announced that it had reached an agreement with Musk and decided to accept an all-cash offer of US$54.2 per share. Twitter agreed so readily that it confused Musk.

html In mid-May, Musk announced that his plan to acquire Twitter was "temporarily shelved." Max believes that the number of robot accounts on Twitter is much higher than 5%, and is unwilling to pay another high price of US$43 billion, and even threatened Twitter to withdraw from the deal.

Twitter stock price fell

html In July, Musk announced the termination of the acquisition of Twitter because Twitter "seriously violated multiple terms of the agreement." Twitter was completely outraged, and its executives issued a message stating that they would meet Musk in court. Musk then decided to countersue.

A US judge ordered that Musk’s acquisition of Twitter be heard from October 17th to 21st.