Home » Economy » Musk says he may drop Twitter deal if fake account data not provided

Musk says he may drop Twitter deal if fake account data not provided

Elon Musk may walk away from his US$44 billion deal to acquire Twitter if the social media network...

👤 H K Badal6 Jun 2022 5:15 PM GMT
Musk says he may drop Twitter deal if fake account data not provided
Share Post

Elon Musk may walk away from his US$44 billion deal to acquire Twitter if the social media network fails to provide data on spam and fake accounts, the billionaire warned in a letter to the company on Jun 6.

Twitter was in a "clear material breach" of its obligations and that Musk reserves all rights to terminate the merger agreement, the letter said.

This is the first time Musk has threatened to walk away from the deal in writing as opposed to airing it on Twitter's social media platform.

Twitter had previously downplayed Musk's warning that the deal was "on hold", arguing that the data would help him prepare for his ownership of Twitter, not to carry out due diligence and reopen negotiations.

Earlier in March, Musk said he would put the deal "temporarily on hold", while he waits for the social media company to provide data on the proportion of its fake accounts.