Twitter wasn't originally on the market, though. Musk busted in like the Kool Aid Man and started shoveling money at them, like those real estate agents that call at all hours of the day and night saying they'll buy your house, sight unseen, for 20% over market value. Twitter wasn't really interested, but Ego McBucks was so eager to buy that he was willing to get into a drawn-out proxy war, so they figured what the hell, we'll sell, but only if McBucks waived due diligence, so the merger talks don't go on forever. McBucks agreed, and signed on the dotted line, April 25th: :
"Section 4.25 No Other Representations or Warranties. Except for the representations and warranties expressly set forth in this Article IV, neither the Company nor any other Person makes or has made any representation or warranty of any kind whatsoever, express or implied, at Law or in equity, with respect to the Company or any of its Subsidiaries or their respective business, operations, assets, liabilities, conditions (financial or otherwise), notwithstanding the delivery or disclosure to Parent and the Acquisition Sub or any of their Affiliates or Representatives of any documentation, forecasts or other information with respect to any one or more of the foregoing. Without limiting the generality of the foregoing, neither the Company nor any other Person makes or has made any express or implied representation or warranty to Parent, Acquisition Sub or any of their respective Representatives with respect to (a) any financial projection, forecast, estimate or budget relating to the Company, any of its Subsidiaries or their respective businesses or, (b) except for the representations and warranties made by the Company in this Article IV, any oral or written information presented to Parent, Acquisition Sub or any of their respective Representatives in the course of their due diligence investigation of the Company, the negotiation of this Agreement or the course of the Merger, or the accuracy or completeness thereof. "
Now that the market is falling out from under him, Musk is complaining that he didn't get to inspect the house, after specifically waiving inspection, and is trying to back out of the deal by insisting on a thorough inspection. And now the Texas AG is jumping in on his side to distract from all the legal trouble he's in.