Elon Musk
Elon Musk warns of terminating Twitter deal if data on fake accounts not provided
Tesla chief Elon Musk has warned that he may walk away from his $44 billion deal to acquire Twitter Inc if the micro-blogging company fails to provide data on spam and fake accounts, his letter to the company stated on Monday.
The letter by Musk's lawyer said Twitter was in a "clear material breach" of its obligations and that the Tesla chief reserves all rights to terminate the merger agreement.
"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 accessed by Reuters.
"Musk believes the company is actively resisting and thwarting his information rights," the letter stated.
Earlier, he had put the deal on hold after he queried the number of fake or spam accounts on the social media platform.
"Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users," he had tweeted.
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