According to Bloomberg, Elon Musk is being investigated by federal authorities in relation to his attempt to buy Twitter.
Lawyers on behalf of Twitter wrote in a court filing in Delaware about the investigation, the first sign that Musk is under federal scrutiny over the deal.
Attorneys for Potter Anderson Corroon LLP wrote October 6 in a filing (unsealed Thursday), “Elon Musk is presently under investigation by federal authorities for his conduct in connection with the acquisition of Twitter. Through counsel, he has exchanged substantive correspondence with those authorities concerning their investigations. Twitter wants those documents, because they bear upon key issues in this litigation.”
Elon Musk is currently trying to purchase Twitter for his original offer amount of $44B. After dropping the initial offer, Musk backed out of it and was facing a deposition in court this week before he abruptly reversed course and asked Twitter to close on the original offer terms.
Musk has been satirically plugging a fragrance brand on Twitter recently, writing, “Please buy my perfume, so I can buy Twitter.”
So Twitters lawyers want access to the exchanges Elon’s lawyers have had with the Fed’s. Surely that would compromise the Fed investigation if that info was handed over.
They are going to do anything to stop him from getting this deal done.