Billionaire businessman Elon Musk has responded to Twitter’s threat to sue him over his decision to pull out of the $44 Billion Merger Agreement to buy Twitter.
The CEO of Tesla took a swipe at Twitter with a couple of late-night posts on Sunday. The first was a meme detailing the key steps that have transpired in his bid to buy the Big Tech giant with pics of him laughing next to each step.
Musk posted “They said I couldn’t buy Twitter….Then they wouldn’t disclose bot info…Now they want to force me to buy Twitter in court.”
After Musk pulled out of the deal the Twitter board threatened to sue to make Musk comply with the merger agreement. Musk’s attorneys say Twitter has not provided correct information on fake or spam accounts even after multiple requests for information were made and that the information they did provide grossly undercounts the number of Spam Bots.
Musk issued a formal filing with the U.S. Securities and Exchange Commission terminating the merger agreement saying in part,
Mr. Musk is terminating the Merger Agreement because Twitter is in material breach of multiple provisions of that Agreement, appears to have made false and misleading representations
upon which Mr. Musk relied when entering into the Merger Agreement, and is likely to suffer a Company Material Adverse Effect.For nearly two months, Mr. Musk has sought the data and information necessary to “make an independent assessment of the prevalence of fake or spam accounts on Twitter’s platform.”
Twitter has failed or refused to provide this information. Sometimes Twitter has ignored Mr. Musk’s requests, sometimes it has rejected them for reasons that appear to be unjustified, and sometimes it has claimed to comply while giving Mr. Musk incomplete or unusable information
In the second post, Musk featured a picture of Chuck Norris with the words “Chuckmate”
Reports indicate the lawsuit could come as early as this week.
