Twitter says that payments to a whistleblower did not breach any of its obligations under the $44B acquisition proposed by Elon Musk. Shareholders will vote on Tuesday on whether to approve or reject Musk’s takeover bid.
A follow-up letter on Aug. 29In Friday’s letter, Musk’s legal team said an alleged $7.75 million severance payment to Zatko from Twitter is another breach of the takeover agreement.“As was the case with both your July 8, 2022 and August 29, 2022 purported notices of termination, the purported termination set forth in your September 9, 2022 letter is invalid and wrongful under the Agreement,” the social media giant’s legal team wrote to Musk’s representatives.
“Twitter has breached none of its representations or obligations under the Agreement, and following the receipt of the approval of Twitter’s stockholders at its September 13, 2022 special meeting, all of the conditions precedent to the closing of the Merger will be satisfied.”
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