Elon Musk is threatening to withdraw from the Twitter deal because of the boat estimates. He claims that some opaque spam calculations are a “material breach” of the merger agreement.
Elon Musk is still unhappy with Twitter’s position on bots and other fake accounts. According to Bloomberg, Musk has modified an SEC file to claim that Twitter is committing a “material breach” of the terms of the merger, allegedly refusing to disclose sufficient information about bot spam and false account data.
The offer of the social network to provide additional information about its testing methods for fake accounts is both inadequate and an attempt to “obstruct and confuse” the situation, said the head of Tesla. In other words, he is worried that Twitter is trying to hide the true extent of the problem of its bots.
Musk seems to be rethinking Twitter
According to the document, Musk needs data both to prepare for the acquisition of Twitter and to improve its funding. He also argued that he should neither explain his reasoning for the data nor accept the new conditions for accessing any information.
Twitter typically claimed that bots and fake accounts accounted for less than five percent of daily users, but did not share significantly more details. Musk put its purchase “temporarily on hold” in mid-May as it tried to confirm that figure.
But this is not the only obstacle facing Musk’s offer. EU regulators, for example, have warned that the entrepreneur will still have to abide by local content rules, regardless of his desire to relax Twitter policies. However, if Musk and the company remain at odds over the boot data, the $ 44 billion acquisition could fall apart before it is even completed.
Twitter told Engadget that it will continue to share information “in cooperation” with Musk, in accordance with the agreement: “Twitter has shared and will continue to share information in cooperation with Elon Musk, to complete the transaction in accordance with the terms of the merger agreement . We believe that this agreement is in the interest of all shareholders. We intend to close the transaction and implement a merger agreement at the agreed price and conditions. “