The messages that dissuaded Musk from the Twitter deal

By: News Team

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Tesla Inc (NASDAQ: TSLA ) CEO Elon Musk texted late into the night with Oracle Corporation (NYSE: NYSE: ORCL ) co-founder Larry Ellison before calling off a $44 billion deal to buy Twitter Inc (NYSE: NYSE: TWTR ).

What You Should Know A court filing by Twitter has claimed that Musk exchanged multiple text messages with Ellison from May 12 to 12:20 a.m. on May 13, Insider reports.

As reported, the messages were exchanged nearly four hours before Musk announced he was temporarily suspending the Twitter deal.

Twitter’s letter to the Delaware Court of Chancery stated that Musk’s attorneys failed to provide the relevant text messages between Musk and Ellison after Twitter cited the Tesla CEO’s messages about the deal, according to Insider.

Why It Matters Twitter sued Musk in July to force a buyout, saying the businessman had refused to meet his obligations.

Twitter’s lawyers appear to be weaving a case around Musk’s texts, according to Insider. They accused Musk of “destruction of evidence,” citing a Signal screenshot of a conversation between Musk and venture capitalist Marc Andreessen. Those messages were reportedly set to be deleted after a while.

While Andreessen’s venture capital firm Andreessen Horowitz backed Musk with $400 million, Ellison was part of a group of 19 investors who pledged $7.14 billion to back the Twitter purchase.

Previously, lawyers for Twitter cited a private conversation Musk had with a Morgan Stanley (NYSE: MS ) banker in which he reasoned that it wouldn’t “make sense to buy” the social network if “we’re headed for World War III” with Russia. .

The price move On Monday, shares of Twitter closed the regular trading session 0.25% higher at $276.01 and were up 0.1% after-hours, according to data from Benzinga Pro.

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