Elon Musk Threatens to Drop Twitter Deal
Main page News, Elon Musk, Twitter

Tesla and SpaceX CEO Elon Musk has warned in a regulatory filing with the US Securities and Exchange Commission (SEC) that he might abandon his plans to take over Twitter if the social network fails to provide data about spam or bot accounts.

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In the document, the billionaire's lawyer Mike Ringler said that Musk reserves "all rights resulting therefrom, including his right not to consummate the transaction and his right to terminate the merger agreement." He added that Musk believes Twitter is "transparently refusing to comply with its obligations under the merger agreement."

"Mr. Musk has made it clear that he does not believe the company’s lax testing methodologies are adequate so he must conduct his own analysis. The data he has requested is necessary to do so."

Binance, Sequoia Backed Elon Musk's $44B Twitter Takeover

The move comes after Musk said it had "put on hold" his acquisition plans as Twitter failed to provide data on the proportion of its fake accounts. The Tesla CEO is reportedly ready to buy Twitter for about $44 billion as he sees "extraordinary potential" in the social network.

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