ELON musk may walk away from his $44 billion deal for acquisitions Twitter If the social media network fails to provide data on spam and fake accounts, Tesla The CEO has warned in a letter to the company on Monday.
Twitter was in “obvious material breach” of its obligations and that musk The letter states that all rights to terminate the merger agreement are reserved.
this is the first time musk has threatened to walk away from the deal in writing to protest against airing it Twitterof social media platforms.
Twitter previously reduced muskwarned that the deal was “on hold”, arguing that the data would help prepare it for its ownership. TwitterFor not doing due diligence and reopening the talks.
earlier in March musk He said he will “temporarily halt” the deal while he waits for the social media company to provide data on the proportion of its fake accounts.
,musk believe that Twitter is transparently refusing to comply with its obligations under the merger agreement, raising suspicion that the company is withholding the requested data,” according to the letter.
a self-proclaimed free speech absolutist, musk questioned the accuracy of TwitterPublic filings about spam accounts representing less than 5% of the U.S. user base, claiming they must be at least 20%.
musk Said they needed the data to do their analysis Twitter Users and did not believe in the company’s “loose testing methods”.
,musk expressly entitled to the requested data to enable it to prepare for transition Twitterfor their ownership and to facilitate the financing of their transactions,” their lawyers said in the letter.
musk has said it has arranged financing for the deal through equity and debt, attracting top shareholders including Saudi Arabian investors Prince Alwaleed bin Talal and Sequoia Capital.
Twitter Shares were down 5.5% at $37.95 in early trading.
Twitter Did not immediately respond to a request for comment.
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