Musk says Twitter must provide him more data.
Elon Musk says that Twitter is in “clear material breach” of their $44 billion acquisition deal and that he could “terminate” the agreement in response. Insent to Twitter this morning, Musk’s legal team claims that Twitter has failed to provide him with information on the service’s spam bot problem and that he’s entitled to receive that information under the deal agreement.
“Mr. Musk believes the company is actively resisting and thwarting his information rights under the merger agreement,” the lawyers write. The letter says Musk could choose “not to consummate the transaction” because of the alleged breach of contract.Musk has spent weeks complaining about the spam bot problem on Twitter in what has appeared to be a strange effort to escape a deal he signed barely more than a month ago.
But it wasn’t until today that Musk made an official threat to back out of the acquisition, with most of his prior complaints being made in tweets and interviews. Wedbush Securities analyst Daniel IvesTwitter spokesperson Brian Poliakoff said the company has been cooperating with Musk and will continue to share information.
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