Tesla CEO Elon Musk has pulled out of the $44 billion Twitter deal, causing a fair amount of buzz in the tech industry. Recently, but before pulling out of the deal, a new report shows that Musk sent a message to Twitter CEO Parag Agrawal saying he was trying to “stir trouble” after the company’s lawyers sought information about the financial details Musk was planning. Complete the Twitter acquisition. This information was disclosed in a petition filed by the social media company.
According to the lawsuit, Musk sent a message to Twitter CEO Parag Agrawal and CFO Ned Segal on June 28, saying, “Your lawyers are using these conversations to cause trouble. It needs to stop.” Musk sent the message to Agrawal and Segal after Twitter asked Musk how he would finance the Twitter deal.
Musk’s decision to back out of the Twitter deal didn’t come as a complete shock. Many of his tweets indicated that he was not interested in the deal. Musk initially tweeted that the deal was on hold. He threatened to pull the deal, claiming Twitter had failed to provide information about spam bots. He finally closed the deal on July 9. However, Twitter is in no mood to let Elon Musk slide so easily. Twitter took legal action to prevent him from terminating the contract.
Twitter Chairman Brett Taylor tweeted that the micro-blogging site is considering taking legal action against Musk for backing out of the $44 billion deal. “The Twitter board is committed to closing the transaction at the price and terms agreed upon with Musk. The board plans to take legal action to enforce the merger agreement. We are confident we will prevail in the Delaware Court of Chancery,” Taylor wrote.
Musk, whose sense of humor rarely goes unnoticed, mocked Twitter for forcing him to go ahead with the deal. Sharing a meme on Twitter, Musk posted, “They said I can’t buy Twitter. Then they won’t post bot info. Now they’re forcing 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 it is contractually obligated to buy the company, despite publicly declaring that it is not acquiring Twitter.
One of the main reasons Musk backed out of the Twitter deal was that Twitter did not provide him with accurate information about fake and spam accounts on the social media platform. He also alleged that Twitter did not provide information on the procedures for identifying and suspending accounts.
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