In this article, we are going to cover why the Elon Musk Twitter deal might not go through and how things might progress.
According to a letter from his attorneys to Twitter general counsel Vijaya Gadde sent Monday morning, Elon Musk has the “right not to consummate” the acquisition of Twitter and a “right to terminate the merger agreement.”
Tesla CEO Elon Musk asserts his right to not buy Twitter
After a few days of hinting about an agreement that has been “on hold” for some time, Tesla CEO Elon Musk announced in a formal, legal notice on Thursday that the purchase of Twitter was anything other than legally watertight. The letter from Musk appears to be about a data issue. Musk requests Twitter to provide him with information that will assist him in “facilitate his evaluation of spam and fake accounts on the company’s platform.”
Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of usershttps://t.co/Y2t0QMuuyn
— Elon Musk (@elonmusk) May 13, 2022
Elon Musk Twitter deal might not go through
The tech market’s recent tumble has caused both Twitter and Tesla, the main source of Musk’s riches, to be worth far less today than they were when he made his initial bid of $54.20 per share. That implies Musk is paying too much for the firm since he’ll have difficulty accessing cash in the future. There’s little chance that Twitter will simply accept Musk’s assertion that he has the right to terminate the agreement. If he tries to do so, things are likely to get out of hand.
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