Elon Musk has backtracked on his intention to buy Twitter, and the company is not at all happy with that decision. Reportedly, the firm led by Parag Agrawal has filed a lawsuit against the tycoon with the aim of making him comply with the agreement they reached last April. In this, let us remember, the acquisition of the platform was established for 44,000 million dollars. The leak of this news has also reached Musk, who has not hesitated to make fun of it on his Twitter account.
The statement, specifically, is attached in a note signed by Sean Edgett, who is general counsel of Twitter, and sent to employees in order to inform them that they should not share information related to the matter of the company’s acquisition by by Elon Musk. In an excerpt from that email sent to workers, you can read a public statement made by the same Twitter adviser. “The Twitter Board agrees to close the transaction at the price and conditions agreed with Mr. Musk and plans to take legal action to enforce the merger agreement. We are confident that we will prevail in the Delaware Court of Chancery.”
Elon Musk’s response to these statements is a direct mockery of the company. Mainly, because Twitter, if it intends to force the tycoon to continue with the purchase through the Court, would also have to reveal one of the data that they refused to show when Elon Musk was still interested in the purchase. That is, how Twitter counts the number of bots on the platform.
In fact, the meme that Elon Musk has posted on his social network profile shows images of himself laughing at the following phrases. “They said I can’t buy Twitter. Then they said they won’t reveal bot information. Now they want to force me to buy Twitter in court. Now they have to reveal bot information in court.”
The lack of information about the bots, the main reason why Elon Musk has suspended the purchase of Twitter
Precisely, Elon Musk has not continued with the purchase of Twitter because, according to his legal team, the company “failed or refused to provide” information related to spam bots or accounts. Musk also requested financial data that was not provided by Twitter. The backtracking to buy the platform, moreover, was an open secret. Last May, Elon Musk tweeted his intention to break the agreement, suspecting that Twitter, which said that bots only represent 5% of users on the platform, was lying.
Twitter, for its part, maintains its intention to continue the agreement or, at the very least, make Musk pay for breaching the contract they closed just a few months ago. In fact, the agreement included a fine of 1,000 million dollars in the event that the tycoon did not comply.