NYT report… “As the request for a 10% cut was not accepted, we will proceed as originally contracted.”
Tesla CEO Elon Musk has demanded that Twitter lower the acquisition price, the New York Times reported on the 6th (local time).
Sources said Musk and Twitter had been negotiating a price for the takeover for weeks before Musk agreed to return to the deal.
In the negotiations, Musk demanded a 30% cut in the price of the acquisition, which was originally offered by Musk on Twitter.
Considering that the original acquisition offer was $44 billion, it was asked to lower it to $31 billion.
After Twitter refused, Musk offered a 10% cut this time.
However, when negotiations did not progress even on this, Musk suddenly decided to stick to the original contract, the newspaper reported.
Musk has said he will fulfill the deal, but the two sides are battling over the terms of the deal, the Wall Street Journal reported.
The trial was scheduled for five days at the Delaware State Equity Law Court from the 17th, and negotiations were expected on the 5th, but a conclusion was not reached.
The two sides have failed to reach the details, including how Musk will finance the Twitter acquisition, sources familiar with the process said.
The two sides have agreed to postpone Musk’s testimony for the lawsuit, which was scheduled in Texas on the 6th.
However, it is necessary to withdraw the lawsuit in order to reach a conclusion of the negotiations, but a conclusion has not been reached yet.
The court also said that neither side has made any move to stop the lawsuit, and the trial on the 17th will be held as scheduled.
/yunhap news
