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‘Oh the irony lol’: Elon Musk reacts after Twitter sues him

Elon Musk vs Twitter

Source: The Print

The world’s richest man, Elon Musk quickly responded to an accusation soon after it was registered by the social networking firm, Twitter for disrupting the bid to take over the firm worth $44 billion.

It took him only a few minutes to post a tweet after the report of him getting accused by the microblogging site flared over the internet. The tweet simply read “Oh the irony lol.”

Although the chief executive of Tesla did not indicate that he is referring to the accusation, it is somewhere evident that the billionaire is citing the advancing dispute between him and the microblogging platform, specifically acknowledging the takeover bid. The social networking platform presumably was not willing to carry on the agreement.

According to a news report, the accusation was registered in Delaware’s Court of Chancery on July 12, making allegations of deceitfulness against the billionaire.

In the accusation filed by the microblogging site, it wrote that the firm takes this move to preclude the billionaire from any other deal disruptions in the future to force him to accomplish his lawful responsibilities and force culmination of the takeover upon achievement of some striking actions.

The accusation being filed in the court initiates what might be a long legitimate war as the microblogging site looks to stay the billionaire to his agreement of purchasing each stake of the company for an amount of $54.20.

The microblogging site is being backed by a law company called Wachtell, Lipton, Rosen & Katz. It claimed that the chief executive of Tesla was looking for a flight from the contract, which demanded a relevant detrimental consequence or disruption of the deal.

The accusation further read that the billionaire had to attempt to exorcise any of the above-mentioned measures to escape from the deal.

Back on Friday, last week the CEO of Tesla declared the cessation of his bid (worth $44 billion) to take over Twitter via a notice his lineup sent to the microblogging site. The billionaire citing the reason behind this step said that Twitter had violated the guidelines of the takeover deal a number of times.

Earlier in April this year, the richest man in the world arrived at an acquirement deal with the microblogging site with an offer of each stake of the company for $54.20. This agreement was then stayed by the billionaire, back in May, to let his lineup analyze the accuracy of the firm’s report that the site has only less than 5% of automated accounts on it.

Last month, Musk publicly alleged Twitter of violating the takeover deal and warned that he might withdraw his bid in the future.

 

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