Bizarre billionaire Elon Musk has again come under the spotlight with his Twitter purchase. In the next episode of this sitcom, he might reconsider buying both the company itself and its stock. Elon Musk’s lawyer sent a notice to Twitter executives warning that the takeover deal is on the verge of failure.
Earlier, the mogul inquired about the number of fake accounts on the social media platform but the management refused to unveil this information.
“Based on Twitter’s behavior to date, and the company’s latest correspondence in particular, Mr. Musk believes the company is actively resisting and thwarting his information rights (and the company’s corresponding obligations) under the 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 signed by attorney Mike Ringler reads.
Previously, in mid-May, Elon Musk announced that the settlement of the deal was suspended. He said that the purchase would not be nailed down unless the company proves that the share of spam accounts on the platform does not exceed 5%. Nevertheless, a Twitter spokesperson insisted that the merger agreement was progressing on schedule and its suspension was out of the question. The takeover deal is valued at $44 billion.
