Question and answer between Twitter ed Elon Musk. A few days after the announcement of its decision to abandon the acquisition of the platform, the company responded with a rather bright letter. Without too many words, Twitter accused the entrepreneur of having “knowingly” violated the agreement for the purchase of the company. And he has firmly stated that he has not violated his obligations under the merger agreement, as Musk had previously stated. In short, the question seems to be able to give us very interesting implications.
Twitter sends Elon Musk a bright letter
“Twitter requires that Mr. Musk and the other parties comply with their obligations under the agreement, including the obligation to use their respective reasonable efforts to consume and effect the transactions contemplated by the agreement, “reads the letter sent by Twitter to the CEO of Tesla. . As you may already know, in fact, the company has thought of sue Musk to force him to complete the acquisition. A hypothesis that the entrepreneur has publicly mocked by launching a series of particularly ironic memes on Twitter. In any case, the company seems determined enough to close the matter as it sees fit.
Meanwhile, however, Twitter’s shares have closed in discount of 11.3%, thus marking the largest daily decline in the past 14 months. Quite a difficult situation for the company. And it might not even be the only one. Francis PileggiIn fact, he stated that Elon Musk could put the platform’s bots at the center of a future litigation, should he decide to defend himself against Twitter’s lawsuit by claiming that he misrepresented the number of fake accounts. Pileggi himself then stated that if the number of bots were much higher than the 5% estimated by the App, then there could be negotiations for an acquisition at a reduced price. It therefore remains to understand what will happen. Meanwhile, Twitter and Elon Musk continue to argue with each other, that’s for sure.