Elon Musk threatens to cancel Twitter deal if data not provided

Elon Musk threatens to cancel Twitter deal if data not provided

Elon Musk and his Twitter takeover deal seem like a never-ending saga ever since the Tesla and SpaceX CEO showed his keen interest in acquiring the social media platform. Elon Musk has been in a tug-o-war for quite some time, and now he has threatened to cancel the deal to buy Twitter Inc.

In a letter to the company written on Monday, Musk has accused Twitter of refusing to share information about its spam bot and fake accounts.

“Musk believes Twitter is transparently refusing to comply with its obligations under the merger agreement, which is causing further suspicion that the company is withholding the requested data due to concern for what Musk’s own analysis of that data will uncover,” according to the letter.

“Musk believes the company is actively resisting and thwarting his information rights,” the letter added.

In April, Musk had bought Twitter for $54.20 per share, amounting to $44 billion for the deal.

Fake Accounts & Spam Bot

The letter states that Musk has asked for data on fake accounts and spam bots since May 9 to evaluate the number of bogus ones from its 229 million accounts.

“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,” the letter said.

While Twitter has maintained that less than 5% of its accounts are spam, Musk believes 20% or more accounts are fake. For Musk, bots are a problem for Twitter users and advertisers, and a permanent fix is the only solution.

“If Twitter is confident in its publicized spam estimates, Mr. Musk does not understand the company’s reluctance to allow Mr. Musk to independently evaluate those estimates,” according to the letter.

The letter also states that the 50-year-old billionaire has agreed not to disclose spam and fake account data.

Meanwhile, Twitter released a statement mentioning its cooperation in sharing data with Musk “in accordance with the terms of the merger agreement.”

“We intend to close the transaction and enforce the merger agreement at the agreed price and terms,” the statement read.

Read – Elon Musk sued by Twitter investors for allegedly manipulating stock price

Read – Tesla is always on my mind, not distracted by Twitter deal: Elon Musk

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