Elon Musk’s lawyer has posted a letter threatening to derail a huge deal – and it all comes down to fake bots.
Elon Musk has threatened to abandon his $ 44 billion (A $ 60.9 billion) deal to buy Twitter.
The richest man in the world accused the social media giant of “resisting and hindering” his right to information about fake accounts, something he mentioned was key to the huge deal going on.
Musk, 50, said the Twitter acquisition deal was “temporarily suspended” after asking the social media platform to clarify how many of its users were bots or spam accounts.
He said up to half of Twitter’s 229 million users could be fake. Twitter puts that number at around five percent.
“Musk has the right to search, and Twitter is obligated to provide, information and data for, inter alia, ‘any reasonable consumer-related business purpose of the transaction,’ ‘reads the CEO’s attorney in a final word. by SpaceX.
“Musk believes Twitter is transparently refusing to fulfill its obligations under the merger agreement, which is causing further suspicion that the company is withholding requested data due to concern over what Musk’s analysis is. of such data will discover.
“As a potential Twitter owner, Musk clearly has a right to the required data to enable him to prepare to transfer the Twitter business to his ownership and to facilitate the financing of the transaction. To do both, he must have a complete and accurate understanding of the very core of Twitter’s business model: its active user base.
“In any case, Musk is not required to explain why he requested the data, nor to submit to the new conditions that the company attempted to impose on his contractual right to the requested data.”
It’s unclear why Musk wants to know how many Twitter users are fake, but he might try to lower the social media platform’s price by showing it has fewer genuine subscribers.
The billionaire could be hit with a $ 1 billion breakup fee if he withdraws from the deal.
Originally published as Elon Musk threatens to abandon a $ 61 billion deal on Twitter