While speculation of Elon Musk’s renewed interest in Twitter, Inc. TWTR is gaining ground, a report suggests that the Tesla, Inc. TSLA CEO has sought additional information from the social media platform.
In a letter filed under seal on Tuesday, Musk’s legal team has asked Twitter to turn over the names of its employees who are involved in calculating spam account counts, Reuters reported, citing a source familiar with the matter.
The billionaires' legal team has reportedly reasoned that this would help them question the concerned employees.
Musk and Twitter earlier agreed on a deal to take the social media company private in late April, but the billionaire has backtracked since, citing issues with the way bot accounts are being counted. Twitter subsequently initiated a lawsuit to enforce the deal and Musk returned in kind with a countersuit.
A five-day trial is set to begin in the Delaware court of chancery on Oct. 17. Experts believe Twitter holds an edge in the lawsuit, given Musk had waived off due diligence in a bid to quickly complete the deal.
Following Musk’s disclosure of additional Tesla stock sales on Monday, analysts see an increased odds of the deal closing. Future Fund’s Gary Black said the deal will likely go through at a scaled-back price of $51-$52 per share as opposed to the original per-share deal value of $54.20.
Price Action: Twitter closed Wednesday’s session at $44.43, up 3.74%, according to Benzinga Pro data.
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