It has been quite an interesting few months for Elon Musk and his ongoing Twitter purchase… but there is a lot of skepticism as to if Musk will actually proceed with his purchase.
This morning, Vijaya Gadde, said in a letter to Twitter’s head of legal, policy and trust, that Twitter is "actively resisting and thwarting his [Musk’s] information rights" that were previously outlined in a deal between Musk and the social media giant.
An attorney that is representing Elon Musk in the purchase also released a statement saying:
"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,"
If you are wondering what all these issues are about, in the early stages of the ongoing purchase, Musk requested that Twitter provide information regarding bots and fake accounts on the platform. Musk believes that a large majority of Twitter accounts are bots.
In early trading this morning, Twitter shares dropped 5%.
Many are skeptical that Musk will actually proceed with the purchase of Twitter. Musk has previously stated that the purchase “cannot move forward” until there is “proof” regarding what he requested.
The letter that was sent out this morning also speculated that Twitter is “withholding the requested data due to concern for what Mr. Musk’s own analysis of that data will uncover”.
It will be interesting to see what happens in the coming weeks.