Following Elon Musk‘s announcement to back out of the $44 billion USD Twitter deal. Since he has bailed on the acquisition deal, Musk has now been warned that Twitter is prepared to take legal action if it does not go through.
In an internal memo obtained by The Verge, Twitter’s general counsel has warned its employees against speaking out on the Twitter deal. As it could be deduced, the acquisition agreement made headlines across the world and features ongoing legal matters and sensitive material. Part of the reason why Musk’s team has decided against moving forward is due to Twitter having “failed or refused to provide” information regarding the number of bots on the platform.
The memo was sent by Sean Edgett, Twitter’s general counsel, to staff on Friday and read,
Today we received a notice of purported termination from Elon Musk, and the Twitter Board issued the following statement in response (see our Chairman Bret Taylor’s Tweet here):
“The Twitter Board is committed to closing the transaction on the price and terms agreed upon with Mr. Musk and plans to pursue legal action to enforce the merger agreement. We are confident we will prevail in the Delaware Court of Chancery.”
Given that this is an ongoing legal matter, you should refrain from Tweeting, Slacking, or sharing any commentary about the merger agreement. We will continue to share information when we are able, but please know we are going to be very limited on what we can share in the meantime.
I know this is an uncertain time, and we appreciate your patience and ongoing commitment to the important work we have underway.
In other tech news, Apple is reportedly introducing a “Pro” tier for Apple Watch starting at $900 USD.