Michael Perry on June 6, 2022
Elon Musk has been trying to determine exactly what percentage of Twitter users are fake. The issue became a huge stumbling block for his massive deal to buy the social media giant. Now, the Tesla billionaire has threatened to completely end the deal due to a lack of information from the company.
The Wall Street Journal reports that Elon Musk had his attorney send a letter to Twitter on Monday morning. In that letter, Musk accuses Twitter of “actively resisting and thwarting his information rights.” Elon has been looking for information on how many active Twitter users are real and how many are bots or spam accounts.
In the letter, Musk acknowledged that Twitter did send over some information relating to the matter. Elon Musk wants to see more, however. He would like to conduct an investigation of his own, which he believes Twitter is blocking him from doing.
“At this point, Mr. 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 Mr. Musk’s own analysis of that data will uncover.
This is a clear material breach of Twitter’s obligations under the merger agreement and Mr. Musk reserves all rights resulting therefrom, including his right not to consummate the transaction and his right to terminate the merger agreement.”
It is unknown whether Elon Musk plans to terminate the deal or if this is simply a negotiating tactic. Musk placed the purchase on hold after receiving info that he believes decreases the value of the company. It does not appear that Elon will be taking control of Twitter any time soon.
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June 6, 2022 9:53 am
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