The mogul's lawyer sent a new letter to Twitter on Monday, arguing that the company is in breach of the takeover deal.
The letter says that the company sent over information to Musk in a June 1 correspondence, but Musk responded that he wants to conduct his own analysis. “At this point, Mr. Musk believes Twitter is transparently refusing to comply with its obligations under the merger agreement, which is causing further suspicion that the company is withholding the requested data due to concern for what Mr. Musk’s own analysis of that data will uncover,” the Monday letter reads.
Musk’s Monday letter to Twitter leaders ends on an ominous note, effectively threatening to terminate the deal if he is not given the requested data. “This is a clear material breach of Twitter’s obligations under the merger agreement and Mr. Musk reserves all rights resulting therefrom, including his right not to consummate the transaction and his right to terminate the merger agreement,” it reads.
Of course, it isn’t immediately clear whether the threat is to be taken seriously, or whether Musk simply wants to negotiate a better price for the company. As of market open Monday, Twitter stock was trading at just over $40 per share, well below the $54.20 that Musk agreed to pay. A larger market correction in the
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