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Musk posts meme on Twitter's legal threat following termination of $44 billion deal
By Arghyadeep Dutta - Jul 11, 2022, 01:26 PM ET
Last Updated - Mar 11, 2024, 03:41 PM EDT
Musk shared memes on Twitter saying the social media company will have to disclose information about spam accounts in court
• Musk shared memes on Twitter saying the social media company will have to disclose information about spam accounts in court
Elon Musk on Monday mocked Twitter Inc’s (NYSE: TWTR) threat to sue him after the billionaire terminated the $44 billion takeover deal, tweeting the social media firm would need to disclose more information on bots and spam accounts.
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Tesla Inc (NASDAQ: TSLA) chief’s tweets are the first public response since he made public his intention to ditch the offer on Friday, citing Twitter had breached multiple provisions of the merger agreement.
“Twitter has not provided information that Mr Musk has requested for nearly two months notwithstanding his repeated, detailed clarifications intended to simplify Twitter’s identification, collection, and disclosure of the most relevant information sought in Mr Musk’s original requests,” said Musk’s lawyer in a letter to securities regulators.
Shares of the social media company fell almost 10% on Monday. The stock closed at $36.81 on Friday, a 32% discount to Musk’s $54.20 bid.
Twitter is planning to sue Musk as early as this week and force him to complete the acquisition.
Legal experts say the social media company has a strong legal case against Musk but could opt for a renegotiation or settlement instead of a lengthy court fight.
Picture Credit: CNBC
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