Elon Musk's Decision To Terminate Merger Agreement Deemed 'Invalid & Wrongful' By Twitter

Twitter on July 11 formally responded to Elon Musk's letter on the termination of the $44 billion Twitter purchase. According to Twitter's counsel, William Savitt, the firm has not "breached" any of its "obligations under the Agreement." The letter also stated that Musk's request to cancel the proposed $44 billion transactions is "invalid and wrongful." According to Savitt, the arrangement is still in effect.