Musk threatens to ‘terminate’ Twitter deal over bot account data
Billionaire Elon Musk has threatened to pull out of a $44bn deal to buy Twitter if the social media platform does not provide data he is requesting on bot and spam accounts.
In a letter to Twitter on Monday, the lawyers for the Tesla and SpaceX CEO accused the company of “resisting and thwarting his information rights” under the agreement to purchase the platform.
“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,” they wrote.
Twitter said it intends to close the deal at the agreed price and terms.
“Twitter has and will continue to cooperatively share information with Musk to consummate the transaction in accordance with the terms of the merger agreement,” the company said in a statement on Monday.In April, the Twitter board unanimously agreed to sell the platform to Musk for $44bn, but the deal still requires the approval of shareholders.