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Last month there were talks all over about Elon Musk buying Twitter but before the deal could take its form, in reality, the dispute between Musk and Twitter came up
On Monday, the legal team of Tesla CEO Elon Musk sent a letter to Twitter Inc. that was also filed with the US SEC. The letter stated that Elon Musk had been asking for the information since 9th May 2020 that Twitter has denied providing. The information that Musk was asking about to facilitate the evaluation of fake and spam accounts on the platform.
The legal team further added in the letter that Musk had already made it clear that he does not have any trust in the careless testing methodologies of Twitter and that they are sufficient, which made him conduct the analysis on his own. The letter also noted that Twitter has to avail of the data that was asked by Musk which falls as one of the conditions under the agreement of the company’s merger.
Further arguments that Musk’s legal team had put forth were that the data that Musk has requested is crucial in order to form a complete and in-depth understanding of the active user base on Twitter’s social media platform which is the core of its business model.
Elon Musk is skeptical of Twitter’s refusal to go along with the obligations of the merger agreement which could mean that the company is not expressing any affection to the request made for data while concerning the analysis by Elon Musk himself, as the lawyer in the letter.
Further Elon Musk also believes that Twitter is resisting the rights of information of the SpaceX CEO that falls under the agreements of the merger. It wrote that this action of Twitter is a clear material break of its obligation that comes under the merger agreement and Elon Musk has all rights from here that including his right not to complete the transaction required to accomplish the deal and also his right to put the whole deal up to an end as per the merger agreement.
In a statement in April, Twitter’s representative stated that Elon Musk has made a rush while giving his offer of $44 billion that had not carried any due diligence. Also, Musk had not asked to act upon a confidentiality agreement seeking any information about Twitter that is not publicly available.
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Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
