Elon Musk Threatens to Cancel Twitter Takeover Deal Over Agreement “Breach”

• Elon Musk claims that he believes that Twitter Inc has breached the terms of its acquisition deal.

• The company has failed to provide information about spam and fake accounts which the billionaire demanded.

• 2 months ago, Musk reached an agreement with the board for a $44 billion Twitter takeover deal.

Billionaire, Elon Musk, has announced that he believes that Twitter Inc. is breaching the terms of its acquisition agreement. The Tesla CEO claims that the company has failed to provide information about spam and fake accounts.

In a securities and exchange filing that was made today, Musk said that the social media giant is “actively resisting and thwarting his information rights”  by refusing to provide information about bot and spam accounts.

Last month, Musk disclosed that he wouldn’t proceed with his $44 billion takeover of Twitter unless the company proves that bots make up less than 5% of its total users.

This was after Twitter Chief Executive Officer, Parag Agrawal said that the number of fake accounts is less than 5% of its daily users. The company even cited this same figure in its quarterly filing.

Read also: Elon Musk to Sack 10% of Tesla Workers Over Economy Fears

However, the world’s richest man says that he doesn’t agree with Twitter’s assessment. In his latest filing, the billionaire says that Twitter’s decision to simply provide additional details regarding the company’s testing methodologies, through written materials or verbal explanations is the same as refusing his data request.

Musk and the board agreed to a $44 billion Twitter takeover deal in April but there have been several setbacks in agreements since then.

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