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a lot of noise for nothing !

Thunderbolt, the leader of Tesla finally gave up the takeover of Twitter. Reason given by his lawyers: the lack of transparency on the part of the social network. The case will not end there.

Himself one of the most fervent Twitter users, Elon Musk, also known for being the leader of the electric car brand Tesla, announced to everyone’s surprise in early April in a pithy tweet (see below) wanting to buy the social network of which he was already a shareholder with more than 9% of the capital. “I made an offer,” he said, taking care to leave a link leading users to the takeover offer itself. Objective: promote freedom of expression and set up projects such as the encryption of private messages. If the board of directors of Twitter had given its agreement so that Elon Musk acquires the social network against the sum of 44 billion dollars, the leader renounces it today. Really a surprise?

Lack of transparency

According to Elon Musk’s lawyers, who published a letter at the end of last week, Twitter would not have respected the commitments made in the agreement. At the origin of the disagreement, the social network would not have been sufficiently transparent, in particular on the proportion of robots and spam. According to the American firm, the number of fake accounts is less than 5%. According to the leader of Tesla and SpaceX, their share could squarely exceed 20%. In fact, the question arose since then whether Elon Musk was going to renegotiate the takeover price downwards or simply withdraw his offer. He opted for the second solution. However, because he is legally bound to respect the takeover offer, the billionaire is now exposed to legal proceedings. And as much to say that Twitter is not going to let him get away with it…

Published on 07/11/2022 Updated 07/11/2022

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