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.
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.