Elon Musk has threatened to back out of his $44 billion bid to buy Twitter if the social media platform fails to give data on spam and bogus accounts, according to a letter sent to the business on Monday by the entrepreneur.
Twitter was in “clear material breach” of its duties, according to the letter, and Musk reserves the right to terminate the merger deal.
Musk stated in March that he would put the transaction “temporarily on hold” while waiting for Facebook to submit data on the percentage of bogus accounts it had.
According to the letter, “Musk feels Twitter is openly refusing to comply with its merger agreement responsibilities, raising further suspicion that the firm is hiding the sought data out of fear of what Musk’s own examination of the data may reveal.”
Musk’s lawyers wrote that “Musk believes the business is purposefully contesting and undermining his information rights.”