Elon Musk says Twitter won’t “take yes for an answer”.
The SpaceX founder claims he wants to finalise his attempt to purchase the social media giant for $44 billion but it has been hindered by their concern about the "theoretical possibility of a future failure to obtain debt financing”.
In a court filing, the 50-year-old billionaire details that the microblogging site does not believe the deal can come through.
This revelation comes as Twitter launched legal action against Elon after he tried to rescind his offer to buy them outright. In response, both sides were given until October 28 to finalise a deal, pausing the legal proceedings at the behest of the Tesla founder.
In a shock move, Elon backtracked on his decision, announcing he would go through with the deal last week.
His lawyers wrote in the filing in Delaware Chancery Court: "There is no need for an expedited trial to order defendants to do what they are already doing.
"Yet, Twitter will not take yes for an answer. Astonishingly they have insisted on proceeding with this litigation, recklessly putting the deal at risk and gambling with their stockholders interests."
In another filing, Twitter- whose CEO is Parag Agrawal - outlined their opposition to pausing the case in another filing in, claiming it was “an invitation to further mischief and delay”.
Their legal representatives said: "Defendants can and should close next week. Until defendants commit to close as required, Twitter is entitled to its day in court.”
Elon first announced his intention to purchase Twitter in April for $54.20 a share. However, he withdrew his offer - which has a $1 billion break clause - after he vocalised concern about the amount of spam accounts on site, which he felt Twitter was lowballing.
