Home Trending Elon Musk threatens to scrap Twitter deal over ‘breach’ of agreement

Elon Musk threatens to scrap Twitter deal over ‘breach’ of agreement

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Today with our article we discuss about a new information about Twitter deal .Elon Musk make an Twitter deal .

To know about the complete story read the article fully.

Who is Elon Musk?

Elon Musk FRS born June 28, 1971.Elon is a business magnate and investor. He is the founder, CEO, and Chief Engineer at SpaceX; angel investor, CEO, and Product Architect of Tesla, Inc.; founder of The Boring Company; and co-founder of Neuralink and Open AI.

Elon Musk net worth,

With an estimated net worth of around US$216 billion as of June 2022, Musk is the wealthiest person in the world .

image source: Google

Elon Musk Twitter deal,

Elon Musk is threatening to pull out of his $44 billion acquisition of Twitter if the company does not provide more information on how it calculates the number of fake accounts.

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.

In a letter sent 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.

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.

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.

Elon Musk Twitter Deal: “Musk believes the company is actively resisting and thwarting his information rights,” according to the letter by Musk’s lawyers.

Musk believes Twitter is transparently refusing to comply with its obligations under the merger agreement, which is causing further suspicion that the company is withholding the requested data due to concern for what Musk’s own analysis of that data will uncover,” according to the letter.

Musk believes the company is actively resisting and thwarting his information rights,” the letter by Musk’s lawyers said.Twitter shares were down 5.5% at $37.95 in premarket trading.

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