Elon Musk was forced to buy Twitter because of court case
Elon Musk was apparently forced to buy Twitter simply because he thought his lawyers would force him to do so. This revelation came from a rare interview with a BBC reporter that happened late Tuesday.
Talking to the multi-billionaire on Twitter Spaces, the BBC‘s James Clayton quizzed Musk on whether or not he willingly bought Twitter, or if he did so simply because of the active court case at the time. Said case had Twitter trying to force him to go through with the sale.
Here, Musk admitted that he felt he was forced to buy Twitter because he believed that legally, that’s what the courts would have had him do anyway.
“Well, I kind of had to,” Musk states when Clayton asks why he changed his mind after initially refusing to purchase the company.
Clayton then asks Musk did so ” because you thought that a court would make you do that?” To which the latter answers “Yes.”
Back in September and October of 2022, Twitter took Musk to court to force him to honor a signed obligation to acquire the company for an agreed-upon price of $ 44 billion–$54.20 per share. However, Musk argued that said obligation was void, claiming that the company was inflating its real user numbers while understating the number of bots active on it.
Following this, Musk’s representatives notified Twitter that he intended to move forward with the deal.
“We write to notify you that the Musk Parties intend to proceed to closing of the transaction contemplated by the April 25, 2022 Merger Agreement, on the terms and subject to the conditions set forth therein,” reads the notice from the representatives.
The revelation that Musk felt forced to buy Twitter puts a new light on the troubles the site has experienced since the purchase. Since that time, the social media giant has faced an exodus of staff while Musk has experimented with ways to try to make it turn a profit. (Read: Twitter to rehire staff let go after Musk’s takeover)
As for what the revelation means for the future of Twitter moving forward, only time will tell.
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