Elon Musk threatens to scrap Twitter deal over lack of transparency

What you need to know

  • Elon Musk has threatened to pull out of his $44 billion Twitter bid if the company fails to provide data on its spam bots problem.
  • Musk wants to know how Twitter counts the number of fake accounts on its platform.
  • According to his lawyers, Twitter is “thwarting his information rights” under the merger agreement.

Elon Musk’s bid to acquire Twitter has recently suffered a series of setbacks. The most recent stumbling block comes as Musk threatens to withdraw his $44 billion merger offer over Twitter’s refusal to provide data on its spam bots problem.

In a letter to Twitter’s chief legal officer, Musk’s lawyers warned that the Tesla CEO could terminate the deal if the social media company fails to disclose information about how it calculates the number of fake accounts on the platform. The letter was included in a filing with the Securities and Exchange Commission (opens in new tab) (via The New York Times (opens in new tab)).

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