Elon Musk may be looking to back out of his Twitter deal.
Or he might simply be looking to negotiating a better price.
Elon Musk signed a deal to buy Twitter for $54.20 per share.
On Monday morning, Twitter was trading for only $40 per share.
On Monday, Musk’s attorney sent Twitter execs a letter.
The Tesla CEO accused Twitter of “actively resisting and thwarting his information rights.”
He called it “a clear material breach of Twitter’s obligations under the merger agreement.”
Musk insists that he now has the right “to terminate the merger agreement.”
He previously tweeted that the Twitter deal was “on hold.”