Musk laid down the gauntlet in a series of tweets replying to remarks regarding his countersuit against San Francisco-based Twitter over his effort to withdraw from the $44 billion deal to buy the company.
“If Twitter simply provides their method of sampling 100 accounts and how they’re confirmed to be real, the deal should proceed on original terms,” wrote Musk, the CEO of Tesla and SpaceX. “However, if it turns out that their SEC filings are materially false, then it should not.”
“I hereby challenge @paraga to a public debate about the Twitter bot percentage,” continued Musk, using the Twitter handle of the company’s CEO Parag Agrawal. “Let him prove to the public that Twitter has <5% fake or spam daily users!”
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Musk, 51, reached an agreement in June to purchase Twitter for $54.20 per share, a hefty premium on the stock’s price of roughly $38 at the time. In July, he stated he was walking away from the deal because Twitter had failed or declined to provide information on fake or spam accounts on the platform.
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Twitter sued days later, demanding that the courts force the deal to go through. It then won the first battle in court, gaining an expedited trial date for October after the world’s richest man attempted to push the case back to next year.
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“Having mounted a public spectacle to put Twitter in play, and having proposed and then signed a seller-friendly merger agreement, Musk apparently believes that he — unlike every other party subject to Delaware contract law — is free to change his mind, trash the company, disrupt its operations, destroy stockholder value, and walk away,” Twitter wrote in a 241-page complaint filed in the Delaware Court of Chancery.
“This repudiation follows a long list of material contractual breaches by Musk that have cast a pall over Twitter and its business,” the company added.
Twitter once again argued that it had given Musk adequate information about bots. It accused Musk of “using bad-faith pursuit of spam-related evidence to assert a baseless claim of breach [of contract].”
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Musk filed a countersuit in late July, the details of which were shown Thursday. In the suit, he argued Twitter held back necessary information and misled his team about its true number of users.
Twitter has called the accusations “implausible and contrary to fact” in its reaction.
Agrawal has not posted a reply to Musk’s challenge.
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