Elon Musk Is Threatening To End His $44 Billion Agreement To Buy Twitter
Elon Musk has threatened to terminate his deal to buy Twitter Inc. in a new letter that was sent out this Monday, accusing the company of not complying with one of his requests.
As we previously reported, in April, Twitter accepted Mr. Musk’s $44 billion bid to take over the company and go private.
While it looked like a closed deal, Mr. Musk wanted a review of the number of spam and fake accounts on the social media platform. However, he explained that has been the big holdup.
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He claims Twitter has refused to provide the data necessary for him to facilitate his own evaluation of the number of spam and fake accounts and threatened to terminate the deal. The letter says that the company sent over information to Musk in a June 1 correspondence, but Musk responded that he wants to conduct his own analysis.
“Based on Twitter’s behavior to date, and the company’s latest correspondence in particular, Mr. Musk believes the company is actively resisting and thwarting his information rights (and the company’s corresponding obligations) under the merger agreement,” the Monday letter reads.
“This is a clear material breach of Twitter’s obligations under the merger agreement and Mr. Musk reserves all rights resulting therefrom, including his right not to consummate the transaction and his right to terminate the merger agreement,” Musk’s Monday letter to Twitter leaders ends on an ominous note, effectively threatening to terminate the deal if he is not given the requested data.”
According to online reports, of’s estimated 229 million users, that would equate about 11.45 million fake accounts.
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