Elon Musk has said he may back out of the $44 billion deal to acquire Twitter if the social network fails to provide requested data on spam and fake accounts, the billionaire said in a letter to the company on Monday. thursday (6).
The text said that Twitter was in a “clear material breach” of its obligations and that Musk reserves all rights to terminate the merger agreement.
This is the first time that the Tesla owner has threatened to withdraw from the agreement via a written document, instead of doing so through posts on the social network itself.
Previously, he had temporarily suspended the deal, awaiting data from Twitter on the proportion of fake accounts on the social media platform.
“Musk believes that Twitter is transparently refusing to fulfill its obligations under the merger agreement, which is causing further suspicion that the company is withholding requested data,” according to the letter.
The billionaire questioned the accuracy of Twitter’s public records about spam accounts representing less than 5% of the user base, and claimed that the percentage must be at least 20%.
He said he needs the data to conduct his own analysis of Twitter users, as he doesn’t believe in the company’s “relaxed testing methodologies.”
“Musk is clearly entitled to the requested data to enable him to prepare for the transition of the Twitter business to his ownership and to facilitate the financing of the transaction,” his lawyers said in the letter.
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