Elon Musk yet again threatened to walk away from the Twitter deal. The Tesla boss issued his most direct threat to walk away from purchasing Twitter accusing the social media company of breaching the agreement by not providing the data he asked about spam and fake 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,” an attorney representing Musk wrote to the company.
Elon Musk demanded Twitter disclose the information about its testing methodologies that reveal its bots. Twitter claims to be having spam accounts of less than 5% of its total user base, which Elon Musk disagrees with.
Musk alleges that the true number of spam accounts is likely much more, potentially as high as 90 percent. The Twitter shares fell 5 percent on Monday trading day.
This post was last modified on 6 June 2022 10:48 pm
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