Musk threatens to leave
The Canadian Press – June 6, 2022 / 06:48 | History: 371027
Photo: The Canadian Press
Elon Musk is threatening to end his $ 44 billion deal to buy Twitter, accusing the company of refusing to give him information about his spam bot accounts.
Lawyers for the CEO of Tesla and SpaceX made the threat in a letter on Twitter dated Monday that the social platform included in a presentation to the Securities and Exchange Commission.
The letter says Musk has repeatedly requested information since May 9, about a month after the company’s takeover bid, in order to assess how many of the company’s 229 million accounts are fake.
In the early hours of Monday, a message was left asking for comments on Twitter.
Lawyers say in the letter that Twitter has only been offered to provide details about the company’s trial methods. But they say this is “equivalent to rejecting Mr. Musk’s data requests.” Musk wants data so he can do his own verification of what he says are lax Twitter methodologies.
Lawyers say that based on the latest Twitter correspondence, Musk believes the company is resisting and frustrating its information rights under the April merger deal.
“This is a clear material breach of Twitter’s obligations under the Merger Agreement, and Mr. Musk reserves all rights arising therefrom, including his right not to complete the transaction and his right to terminate the merger agreement, “the letter reads.