Kamis, 06 Oktober 2022

Elon Musk: Twitter won't 'take yes for an answer' - BBC

Elon MuskReuters

Billionaire Elon Musk has said he aims to complete his purchase of Twitter by the end of the month, but the company "will not take yes for an answer".

In a court filing, he said the social media platform had raised concerns about the "theoretical possibility of a future failure to obtain debt financing" to pay for the deal.

Twitter sued Mr Musk in July after he tried to back out of buying the firm.

Mr Musk asked the court to put that legal fight on hold.

Mr Musk said litigation was no longer necessary, after he said in a surprise move this week that he was prepared to go forward with the original takeover plan, pending receipt of the financing and an end to the legal battle.

"There is no need for an expedited trial to order defendants to do what they are already doing," Mr Musk's attorneys wrote in a filing.

"Yet, Twitter will not take yes for an answer. Astonishingly they have insisted on proceeding with this litigation, recklessly putting the deal at risk and gambling with their stockholders interests."

Mr Musk announced a plan to buy Twitter for $54.20 per share in April. But he backed away from the deal just a few weeks later saying he was concerned that spam accounts on the platform were higher than Twitter had claimed.

Twitter ultimately sued to force Mr Musk to complete the deal.

In the lawsuit, Twitter argued Mr Musk was worried about the price.

Mr Musk was due to be questioned this week as part of the preparation for the trial, which was scheduled to begin 17 October.

Shares in Twitter ended the day down more than 3%, amid investor doubts the deal will go through.

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2022-10-06 20:25:11Z
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