Elon Musk Says Will Drop Twitter Deal if Data on Spam Accounts Not Provided

Musk says in a letter that Twitter was in a "clear material breach" of its obligations and that he reserves all rights to terminate the merger agreement.

Elon Musk Says Will Drop Twitter Deal if Data on Spam Accounts Not Provided

Photo Credit: Reuters

Elon Musk's letter says he believes Twitter is actively resisting and thwarting his information rights

Highlights
  • Elon Musk reached a deal to take Twitter private in April
  • The $44 billion (roughly 3,41,800 crore) deal is yet to be completed
  • Elon Musk has now threatened to terminate the agreement with Twitter
Advertisement

Elon Musk warned he may walk away from his $44 billion (roughly 3,41,800 crore) 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.

Twitter shares were down 5.5 percent at $37.95 (roughly Rs. 2,900) in premarket trading.

© Thomson Reuters 2022


How is Alexa faring in India? We discuss this on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.
Affiliate links may be automatically generated - see our ethics statement for details.
Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.

Poco Confirms New F Series Phone Launch; Poco C40 Arriving on June 16
Facebook Gadgets360 Twitter Share Tweet Snapchat LinkedIn Reddit Comment google-newsGoogle News

Advertisement

Follow Us
© Copyright Red Pixels Ventures Limited 2024. All rights reserved.
Trending Products »
Latest Tech News »