Elon Musk threatens to ABANDON $44billion Twitter deal

Elon Musk has threatened to pull out of his deal to purchase Twitter as he accuses the social media giant of ‘resisting and thwarting’ his right to information about spam and fake accounts on the platform.

He alleged Twitter was in a ‘clear material breach’ of its obligations and he ‘reserves all rights’ to terminate the merger agreement. 

Earlier in March, Musk said he would put the deal ‘temporarily on hold,’ while he waited for the company to provide data on the proportion of its fake accounts. 

The SpaceX CEO also tweeted last month that he ‘cannot move forward’ with his $44 billion purchase of the platform until he is provided the requested data.

Musk has speculated that spam bots could make up at least half of Twitter’s users, more than 10 times the company’s official estimate. 

In a letter to Twitter on Monday, Musk’s attorney argued the terms of the billionaire’s purchase agreement requires the platform to provide the requested data.

He also disputed the company’s alleged claim that it is only required to provide information for the ‘limited purpose’ of closing the deal. 

‘Musk is entitled to seek, and Twitter is obligated to provide, information and data for, inter alia, “any reasonable business purpose related to the consummation of the transaction,”’ the letter stated. 

‘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.’