Tesla boss announces agreement on Twitter acquisition> teslamag.de

Tesla boss announces agreement on Twitter acquisition> teslamag.de

It was clear for a while that a planned takeover of Twitter by Tesla CEO Elon Musk would not go well. After being too quick to make a compulsory offer including billions of dollars from the bank and the Twitter board that supports it, Musk began to question the number of users of the service reported officially and demanded more data. He got that, but since he now had his lawyers write, not to the extent required. He therefore exercises his right to terminate the agreement to take.

Twitter announces going to court

This official letter from the company Musk X Holdings I to the Twitter board was announced Friday after the market closed. It ensured that Tesla’s stock continued to rise after a dark day. Because the takeover plans were too heavy for them – on the one hand because Musk sold his own shares in Tesla to finance it, on the other hand because it was feared that if the Twitter owner could be further disrupted from the service. than he was already.

However, it is controversial whether Musk has the legal option to withdraw his compulsory offer. Which writing from Friday This is evidenced by a violation of Twitter’s management against the agreement. The requested data was not provided or only partially. However, the chairman of the board made it clear on Friday that it had a different view: the agreement will be implemented in court and he is confident of success, he wrote.

Negotiations between Musk and Twitter pages about the possibility of a post-agreement agreement appear to be completed by now and could turn into a court battle. In fact, employees in the target are now unwanted takeover according to the Bloomberg news agency he asked Friday not to discuss the issue on Twitter or Slack because it is now a clear legal dispute.

Tesla boss has already added billions

Tesla’s own boss previously did not comment on his retirement either. That may have changed later on Saturday, however, as he was due to be interviewed at a prominent investor meeting in the resort town of Sun Valley. There Musk should not only have the opportunity to explain his Twitter decision – and perhaps even offer a lower version publicly, which he would be willing to buy again. And if he makes it clear that he is not interested in it, most of those present may have suggestions on how he can use the billions of dollars he has collected from Tesla sales in other ways.