Last Friday, the management of Twitter had already declared that it was ready to go to court in the event that Elon Musk tried to unilaterally reverse his offer to buy the social network at $ 44 billion. In its letter, Twitter denies having committed the slightest breach of the terms of the agreement, while affirming that Elon Musk has “knowingly, intentionally, willfully and materially violated the terms”.
Twitter won’t stop there if Elon Musk doesn’t honor takeover
The firm cites in particular one of the many provisions which was to regulate the behavior of the entrepreneur, the obligation not to be derogatory towards Twitter or its employees. In his last battle with Parag Argawal, Elon Musk had asked the CEO to give him access to precise data on the sharing of false accounts. The manager then took the time to write a very detailed response.
Response from Elon Musk? A “poo” emoji. For their part, Elon Musk’s lawyers continue to claim that the proportion of accounts linked to spam is much higher than claimed by Twitter, which also refuses to give full access to this data for life reasons. privacy and protection of personal data.
Twitter has every interest in seeing Elon Musk forced to honor the terms of the takeover deal, even at this very tense stage. Indeed, the entrepreneur agreed to buy the firm for a very generous price. The sum of 44 billion dollars is to be compared to the capitalization of the firm at the beginning of the week, less than 30 billion. If the redemption does not actually take place, the share price could unscrew even more.
Read also – Will justice force Elon Musk to buy Twitter?
Still, the missive sent by Twitter lawyers to the SEC is a sign that the social network is preparing for a real legal response. Twitter has also approached a law firm specializing in this type of operation. Still, at this stage it is very difficult to predict who could emerge victorious from such a legal confrontation. Each of the parties being for the moment convinced of being able to win…