Elon Musk says Twitter deal could move ahead with 'bot' info

look for twitter, this is *** nightmare scenario and now the stock is going to be under pressure with the must deal done because this is gonna be *** clear headwinds going forward, employee turnover, advertiser issues and really credibility. I think it's gonna be viewed at least in the near term damaged goods. From *** public market perspective airing dirty laundry in public, in the courts, in Delaware, I mean that's really gonna be, I think for all the world to see now, if it's 5% or less, which Twitter has claimed, then ultimately they're proven right must likely has to pay some punitive damages including the breakup, faith and Twitter really ultimately wins in that situation. Problem is is that if this starts to ultimately cascade and the twitter body issue is much bigger and that comes out in court. I think that really calls into question *** lot of issues about the business model, modernization and others and that's why from *** twitter board perspective backs against the wall and the last thing they ever wanted to be was in *** court proceeding with the richest person in the world, Twitter legally could force *** sale to go through. I think if you could historically likely it's in some sort of settlement, but but no doubt, I mean, twitter is gonna sharpen the knives going in

Elon Musk said Saturday his planned $44 billion takeover of Twitter should move forward if the company can confirm some details about how it measures whether user accounts are ‘spam bots’ or real people.The billionaire and Tesla CEO has been trying to back out of his April agreement to buy the social media company, leading Twitter to sue him last month to complete the acquisition. Musk countersued, accusing Twitter of misleading his team about the true size of its user base and other problems he said amounted to fraud and breach of contract.Both sides are headed toward an October trial in a Delaware court.“If Twitter simply provides their method of sampling 100 accounts and how they’re confirmed to be real, the deal should proceed on original terms,” Musk tweeted early Saturday. “However, if it turns out that their SEC filings are materially false, then it should not.”Twitter declined comment Saturday. The company has repeatedly disclosed to the Securities and Exchange Commission an estimate that fewer than 5% of user accounts are fake or spam, with a disclaimer that it could be higher. Musk waived his right to further due diligence when he signed the April merger agreement.Twitter has argued in court that Musk is deliberately trying to tank the deal because market conditions have deteriorated and the acquisition no longer serves his interests. In a court filing Thursday, it describes his counterclaims as an imagined story “contradicted by the evidence and common sense.”“Musk invents representations Twitter never made and then tries to wield, selectively, the extensive confidential data Twitter provided him to conjure a breach of those purported representations,” company attorneys wrote.

The billionaire and Tesla CEO has been trying to back out of his April agreement to buy the social media company, leading Twitter to sue him last month to complete the acquisition. Musk countersued, accusing Twitter of misleading his team about the true size of its user base and other problems he said amounted to fraud and breach of contract.

Both sides are headed toward an October trial in a Delaware court.

“If Twitter simply provides their method of sampling 100 accounts and how they’re confirmed to be real, the deal should proceed on original terms,” Musk tweeted early Saturday. “However, if it turns out that their SEC filings are materially false, then it should not.”

Twitter declined comment Saturday. The company has repeatedly disclosed to the Securities and Exchange Commission an estimate that fewer than 5% of user accounts are fake or spam, with a disclaimer that it could be higher. Musk waived his right to further due diligence when he signed the April merger agreement.

Twitter has argued in court that Musk is deliberately trying to tank the deal because market conditions have deteriorated and the acquisition no longer serves his interests. In a court filing Thursday, it describes his counterclaims as an imagined story “contradicted by the evidence and common sense.”

“Musk invents representations Twitter never made and then tries to wield, selectively, the extensive confidential data Twitter provided him to conjure a breach of those purported representations,” company attorneys wrote.

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