Twitter Inc.’s lawyers called Elon Musk’s termination of his $44 billion buyout agreement “invalid and wrongful” in a letter to the billionaire’s attorneys, a preliminary step by the social network in the looming legal battle over the deal.
Twitter lawyer William Savitt, of Wachtell, Lipton, Rosen & Katz, wrote to Musk’s lawyers at Skadden Arps Slate Meagher & Flom LLP, saying that backing out of the deal “constitutes a repudiation of their obligations under the agreement,” according to a copy of the July 10 letter filed with the Securities and Exchange Commission. Musk agreed to buy Twitter for ...
