The dispute between Tesla boss Elon Musk and Twitter is taking many turns.
According to new reports, Elon Musk recently, but before withdrawing from the deal, sent a text message to Twitter boss Parag Agrawal on June 28, informing him that the company̵[ads1]7;s lawyers were trying to “create problems” after seeking information about the financial details. that Musk planned to complete the acquisition of Twitter.
“Your lawyers are using these conversations to create problems. It must stop,” Musk’s text read. Musk sent the special message after Twitter asked Musk how he would fund the Twitter deal.
A few days ago, Twitter sued Musk after he decided to withdraw from the $ 44 billion takeover deal.
According to The Verge, the lawsuit was filed in Delaware’s Court of Chancery on Tuesday, accusing Musk of hypocrisy. the merger by satisfying the few outstanding conditions, “Twitter wrote in the lawsuit. being repeated by the M&A powerhouse law firm Wachtell, Lipton, Rosen & Katz, claimed that Musk was looking for an escape from the agreement, which demanded a “significant negative effect” or breach of contract.
Musk had to try to conjure up one of them “, it was stated in the lawsuit. Musk announced the termination of the Twitter purchase agreement in a letter sent by Musk’s team to Twitter earlier this month.
Musk decided to suspend the agreement due to several breaches of the purchase agreement. In April, Musk entered into an acquisition agreement with Twitter for USD 54.20 per share in a transaction worth approximately USD 44 billion. However, Musk put the deal on hold in May to let his team assess the truth of Twitter’s claim that less than 5 percent of the accounts on the platform are robots or spam.
Back in June, Musk had openly accused the microblogging site of violating the merger agreement and threatened to go away and suspend the acquisition of the social media company for not disclosing the data he has requested for spam and fake accounts. Musk claimed that Twitter “actively opposes and hinders his information rights” as outlined in the agreement, CNN reported, referring to the letter he sent to Twitter’s head of legal, policy and trust, Vijaya Gadde.
Musk demanded that Twitter provide information about its test methods to support claims that robots and fake accounts make up less than 5 percent of the platform’s active user base, a figure the company has consistently stated for years in public disclosures.