Elon Musk threatens to walk away from Twitter deal

I think this is *** pretext for getting out of the deal. It's it's simply not credible that he didn't know this was an issue. He's *** very sophisticated investor and, and this has been *** problem disclosed in sec filings for years, Elon musk would have to pay *** billion dollars to get out of this deal, which isn't *** huge amount of money for the richest man in the world. Twitter has always been *** much greater um, figure in terms of cultural and political importance than it has been in in economic terms. It struggles to make *** profit. It's lost money in the last two years and the Ceo has been making changes in anticipation of this deal. Okay, when we get you behind me on the white line, he's an erratic character and he announces deals before he thinks them through. But I don't think it's just not credible that he didn't know this was an issue. Um, he talked about it as *** problem he wanted to fix. And he's friends with the founder and former ceo of twitter. So he's known for *** long time that this is *** problem

Video above: Elon Musk says Twitter deal ‘temporarily on hold’ in MayElon Musk is threatening to end his $44 billion agreement to buy Twitter, accusing the company of refusing to give him information about its spam bot accounts.Lawyers for the Tesla and SpaceX CEO made the threat in a letter to Twitter dated Monday that the social platform included in a filing with the Securities and Exchange Commission.The letter says Musk has repeatedly asked for the information since May 9, about a month after his offer to buy the company, so he could evaluate how many of the company’s 229 million accounts are fake.A message was left early Monday seeking comment from Twitter.The lawyers say in the letter that Twitter has offered only to provide details about the company’s testing methods. But they contend that’s "tantamount to refusing Mr. Musk’s data requests." Musk wants data so he can do his own verification of what he says are Twitter’s lax methodologies.The lawyers say that based on Twitter’s latest correspondence, Musk believes the company is resisting and thwarting his information rights under the April merger agreement."This is a clear material breach of Twitter's obligations under the merger agreement and Mr. Musk reserves all rights resulting therefrom, including his right not to consummate the transaction and his right to terminate the merger agreement," the letter says.

Video above: Elon Musk says Twitter deal ‘temporarily on hold’ in May

Elon Musk is threatening to end his $44 billion agreement to buy Twitter, accusing the company of refusing to give him information about its spam bot accounts.

Lawyers for the Tesla and SpaceX CEO made the threat in a letter to Twitter dated Monday that the social platform included in a filing with the Securities and Exchange Commission.

The letter says Musk has repeatedly asked for the information since May 9, about a month after his offer to buy the company, so he could evaluate how many of the company’s 229 million accounts are fake.

A message was left early Monday seeking comment from Twitter.

The lawyers say in the letter that Twitter has offered only to provide details about the company’s testing methods. But they contend that’s "tantamount to refusing Mr. Musk’s data requests." Musk wants data so he can do his own verification of what he says are Twitter’s lax methodologies.

The lawyers say that based on Twitter’s latest correspondence, Musk believes the company is resisting and thwarting his information rights under the April merger agreement.

"This is a clear material breach of Twitter's obligations under the merger agreement and Mr. Musk reserves all rights resulting therefrom, including his right not to consummate the transaction and his right to terminate the merger agreement," the letter says.

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