It turns out that Elon Musk is still willing to complete his purchase of Twitter at the agreed price of $44 billion, or $54.20 per share. The social media company only has to provide their account sampling method and how they are confirmed to be real.
Musk and Twitter are currently involved in what is shaping up to be a bitter legal battle. Tesla’s CEO had offered to buy Twitter for $54.20 per share, an amount that was approved by the social media company’s Board of Directors. Musk would do it later Take issue with Twitter bot estimates in the company’s SEC filings, which he finds suspicious.
Problems with the Twitter bot would eventually cause Musk to announce that he is walk away from the deal. In response, Twitter opted to sue Musk in an attempt to force Tesla’s CEO to complete the deal under the original terms. both sides are headed for trial in a Delaware court this coming October.
Musk shared his thoughts on his ongoing legal battle against Twitter in a series of tweets over the weekend. According to Musk, he is still willing to continue with the original terms of his Twitter purchase agreement if the company provides the sampling method for your bot users and how it is confirmed that the accounts are real. But if Twitter’s SEC filings are proven false, then the deal should not proceed under its original terms.
“If Twitter simply provides its method of sampling 100 accounts and how they are confirmed to be real, the deal should continue on its original terms. However, if it turns out that your SEC filings are materially false, then that should not be the case,” Musk wrote.
Twitter, for its part, has not issued a response to Musk’s musings. However, last Thursday, Twitter argued that Musk’s claim that he was tricked into signing a deal buying the company was false.
According to Musk, he, the billionaire founder of several companies, advised by Wall Street bankers and lawyers, was tricked by Twitter into signing a $44 billion merger deal. That story is as farfetched and contrary to fact as it sounds,” Twitter said in a presentation.
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