Elon Musk has warned that he could blow up his $ 44 billion deal to acquire Twitter if the social network doesn’t provide data on spam and fake accounts. The billionaire said this in a letter to the company. The letter states that Twitter is in a “clear material breach” of its obligations and that Musk reserves the right to terminate the merger agreement.
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In early March, Musk said he would put the deal “temporarily on hold,” pending the social media company to provide data on the percentage of his fake accounts. Musk believes Twitter is transparently refusing to comply with its obligations under the merger agreement, which is raising suspicion that the company is withholding requested data due to concern about what the analysis is. Musk himself will reveal such data, ”the letter reads. “Musk believes the company is actively resisting and hindering its information rights,” reads the letter from Musk’s lawyers.
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Shares of Twitter fell 5.5% to $ 37.95 in premarket trading.