NEW DELHI: The dispute between Tesla CEO Elon Musk and Twitter is taking many twists and turns.
As per new reports, Musk recently, but before pulling out of the deal, sent a text to Twitter CEO Parag Agrawal on June 28, informing him the 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.
“Your lawyers are using these conversations to cause trouble. That needs to stop,” Musk’s text reportedly read. Musk sent the particular message after Twitter asked Musk how he would finance the Twitter deal.
A few days ago, Twitter sued Musk after he decided to back out of the $44 billion takeover deal.
As per a report, the lawsuit was filed in Delaware’s Court of Chancery on Tuesday, accusing Musk of hypocrisy.” Twitter brings this action to enjoin Musk from further breaches to compel Musk to fulfil his legal obligations and to compel consummation of the merger upon satisfaction of the few outstanding conditions,” Twitter wrote in the lawsuit. The lawsuit marks the beginning of what could be a protracted legal battle as Twitter seeks to hold Musk to his deal to pay $54.20 per share for the company. Twitter, which is being repped by M & A powerhouse law firm Wachtell, Lipton, Rosen & Katz, alleged that Musk looked for an escape from the deal, which required a “material adverse effect” or breach of contract.”
Musk had to try to conjure one of those,” the lawsuit stated. Musk announced the termination of a $44 billion Twitter purchase deal in a letter sent by Musk’s team to Twitter earlier this month.
Your lawyers are using these conversations to cause trouble. That needs to stop