Elon Musk warned he may walk away from his $44-billion deal to acquire Twitter if the social media network fails to provide data on spam and fake accounts.
he may walk away from his US$44-billion deal to acquire Twitter if the social media network fails to provide data on spam and fake accounts, the billionaire said in a letter to the company on Monday.
The letter said Twitter was in a “clear material breach” of its obligations and that Musk reserves all rights to terminate the merger agreement. Earlier in March, Musk said he would put the deal “temporarily on hold”, while he waits for the social media company to provide data on the proportion of its 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 by Musk’s lawyers said.Share.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Elon Musk worried about millions of Twitter bot accounts, purchase deal on holdElonMusk says Twitter isn't being truthful about how many bot accounts it has. The tech billionaire has shone a light on internet bots in recent weeks and Briefly News compiled the facts for clarity.
Read more »
Elon Musk confuses market with jumbled talk about Tesla jobsTesla’s stock fell 9.2% on Friday as news of the job cuts emerged
Read more »
Elon Musk confuses market with jumbled talk about Tesla jobsTesla’s stock fell 9.2% on Friday as news of the job cuts emerged
Read more »
Read the email Elon Musk sent to Tesla employees about returning to the office | BusinessinsiderElon Musk issued an ultimatum to Tesla's executive employees, calling for the workers to come into the office and stop 'phoning it in' or to quit. Read the email.
Read more »
OPINION | Elon Musk has a 'super-bad feeling'. Should everyone? | Fin24The richest person in the world says he has a “super bad feeling” about the economy. It’s worth taking a moment to consider the messenger and the wider context. | Fin24
Read more »
Elon Musk worried about millions of Twitter bot accounts, purchase deal on holdElonMusk says Twitter isn't being truthful about how many bot accounts it has. The tech billionaire has shone a light on internet bots in recent weeks and Briefly News compiled the facts for clarity.
Read more »