Elon Musk has threatened to walk away from his US$44-billion deal to acquire Twitter if the social media network fails to provide information 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.
TechEconomy reported in May that Musk might be considering pulling away from taking over the micro-blogging platform. This move will cost him a whopping $1b termination fee.
According to the letter.“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 analysis of that data will uncover.”
“Musk believes the company is actively resisting and thwarting his information rights,” the letter by Musk’s lawyers said.
Author
