KYIV. UkraineGate . 28 . October . 2022 | Society .
American billionaire and SpaceX founder Elon Musk now runs Twitter, the former management has left the company’s headquarters in San Francisco. This is reported by CNBC with reference to its own sources .
Details
Twitter CEO Parag Agrawal and CFO Ned Segal have left the company’s San Francisco headquarters, sources said.
The head of the department of legal policy, trust and security, Vijay Gadd, was also fired, writes Washington Post.
Musk had until October 28 to complete the acquisition of Twitter for $ 44 billion, otherwise the court would resume consideration of the showdown case with the company. Earlier, the court decided to stop the lawsuit and gave the businessman time to secure a deal to buy the social network.
Elon Musk and Twitter
Tesla and SpaceX owner Elon Musk offered to buy back the remaining shares of Twitter after he bought 9.2% of its shares.
He struck a deal to buy Twitter Inc for $44 billion in cash as part of a transaction that transfers control of the social media platform.
Musk later threatened to forgo the $44 billion deal with Twitter. Elon accused Twitter of “resisting and undermining” its right to information about fake accounts on the platform, calling it a “clear material violation” of the terms of their merger agreement.
It also previously became known that Elon Musk’s deal to buy Twitter was under threat, as his analysts did not find effective ways to verify and identify the correct number of spam accounts on the social network.
According to CNBC, referring to a letter sent by Musk’s lawyer to Twitter’s chief legal officer, Musk terminated the agreement to acquire the social network. According to Skadden Arps attorney Mike Ringler, “Twitter has not fulfilled its contractual obligations.”
Twitter Inc. sued Elon Musk for violating a $44 billion deal to buy a social media platform and asked Delaware’s court to order the richest man in the world to complete the merger at an agreed price of $54.20 per share of Twitter. Musk later began a legal battle to buy back Twitter.
In August, he said his planned $44 billion takeover of Twitter Inc. should continue if the company can confirm some details about how it determines whether user accounts are “spambots” or real people.
In addition, Musk hinted at the possibility of creating his own social platform X.com after failing to acquire the social network Twitter.
In September, Twitter shareholders approved a deal to sell the company to billionaire Elon Musk. The meeting lasted seven minutes.
Musk later changed his signature on the social network Twitter to “Twit Chief,” most likely hinting that the company’s purchase deal had likely been completed. In addition, the billionaire visited Twitter headquarters and brought a handwashing sink there.
Source: Ukrgate
