Twitter summonses Oracle co-founder in charge to force Elon ...| MENAFN.COM

Tuesday, 04 October 2022 06:52 GMT

Twitter summonses Oracle co-founder in charge to force Elon Musk's acquisition


(MENAFN) Twitter has summoned Oracle co-founder Larry Ellison in the social media firm's lawsuit to try to push Tesla chief executive Elon Musk to follow through with his USD44 billion acquisition, according to Bloomberg News.

In line with Twitter's original lawsuit, Ellison was the main outside investor in the contract, committing USD1 billion to the acquisition.

Musk originally offered the USD44 billion to take Twitter private in April but tried to withdraw from the agreement in July, saying that the platform misinformed his team regarding the figure of "spam" accounts in its user base.

Twitter took legal action against Musk to force the agreement to undergo, describing Musk’s argument "a story, imagined in an effort to escape a merger agreement that Musk no longer found attractive."

Musk, the richest man in the world with a net worth of USD266 billion, based on Forbes, publicly challenged Twitter CEO Parag Agrawal to "a public debate about the Twitter bot percentage."

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