Tesla CEO Elon Musk has pulled out of the $44 billion Twitter deal, giving rise to a fair amount of drama in the tech industry. A new report shows that Musk recently, but before pulling out of the deal, sent a text to Twitter CEO Parag Agrawal, informing him that company’s lawyers were trying to “cause trouble” after they sought information on the financial details that Musk was planning to complete the acquisition of Twitter. The information has been revealed in a lawsuit filed by the social media company.
As per the lawsuit, Musk texted Twitter CEO Parag Agrawal and CFO Ned Segal on June 28, saying, “Your lawyers are using these conversations to cause trouble. That needs to stop.” Musk had sent the message to Agrawal and Segal after Twitter asked Musk how he would finance the Twitter deal.
Musk’s decision to back out from the Twitter deal was not entirely shocking. Several of his tweets hinted that he was no longer interested in the deal. Musk first tweeted saying that he had put the deal on hold. He then threatened to withdraw the deal, claiming that Twitter failed to provide information about spam bots. On July 9, he finally terminated the deal. However, Twitter is in no mood to let Elon Musk slip off so easily. Twitter has taken a legal route to stop him from terminating the deal.
Twitter chairman Bret Taylor posted on Twitter saying that the micro-blogging site is planning to pursue legal actions against Musk for pulling out of the $44 billion deal. “The Twitter Board is committed to closing the transaction on the price and terms agreed upon with Mr. Musk and plans to pursue legal action to enforce the merger agreement. We are confident we will prevail in the Delaware Court of Chancery,” Taylor wrote.
Musk, whose tongue-in-cheek humour rarely goes unnoticed, mocked Twitter for forcing him to proceed with the deal. Sharing a meme on Twitter, Musk posted, “They said I couldn’t buy Twitter. Then they wouldn’t post bot info. Now they want to force me to buy Twitter in court. Now they have to disclose bot info in court.”
According to reports, Twitter’s lawsuit against Musk argues that he is contractually obligated to buy the company, despite making a public announcement of not taking over Twitter.
One of the prime reasons why Musk backed out of the Twitter deal was that he alleged that Twitter did not provide him with accurate information about the fake and spam accounts on the social media platform. He also alleged that Twitter did not provide information about its processes for identifying and suspending accounts.
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