The mercurial Tesla CEO made the offer in a letter disclosed in a filing Tuesday with the U.S. Securities and Exchange Commission.
Elon Musk's regulatory filing says he’ll complete the deal to buy Twitter as long as he gets debt financing and provided that the court gets rid of an impending lawsuit.Elon Musk is abandoning his legal battle to back out of buying Twitter by offering to go through withThe mercurial Tesla CEO made the offer in a letter to Twitter, Musk disclosed in a filing Tuesday with the U.S. Securities and Exchange Commission.to go through with the deal goes to trial in Delaware Chancery Court.
If Musk were to lose the trial, the judge could not only force him to close the deal but also impose interest payments that would have increased its cost, Talley said. Musk’s argument largely rested on the allegation that Twitter misrepresented how it measures the magnitude of “spam bot” accounts that are useless to advertisers. Most legal experts believe he faced an uphill battle to convince Chancellor Kathaleen St. Jude McCormick, the court’s head judge, that something changed since the April merger agreement that justifies terminating the deal.
Twitter now has options in the case and doesn’t necessarily have to accept a new offer from Musk, said Robert Anderson, a law professor at Pepperdine University.
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