Skip to main content

Advertisement

Advertisement

Musk warns of dropping Twitter deal if data not provided

SAN FRANCISCO — Mr Elon Musk warned he may walk away from his US$44 billion (S$60.43 billion) deal to acquire Twitter if the social media network fails to provide data on spam and fake accounts, the billionaire said in a letter to the company on Monday (June 6).

An image of Mr Elon Musk is seen on smartphone placed on printed Twitter logos in this picture illustration taken on April 28, 2022.

An image of Mr Elon Musk is seen on smartphone placed on printed Twitter logos in this picture illustration taken on April 28, 2022.

SAN FRANCISCO — Mr Elon Musk warned he may walk away from his US$44 billion (S$60.43 billion) deal to acquire Twitter if the social media network fails to provide data on spam and fake accounts, the billionaire said in a letter to the company on Monday (June 6).

The letter said Twitter was in a "clear material breach" of its obligations and that Mr Musk reserves all rights to terminate the merger agreement. Earlier in May, Mr Musk said he would put the deal "temporarily on hold", while he waits for the social media company to provide data on the proportion of its fake accounts.

"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 Mr Musk's lawyers said.

Twitter shares were down 5.5 per cent at US$37.95 in premarket trading. REUTERS

Related topics

Elon Musk twitter

Read more of the latest in

Advertisement

Popular

Advertisement

Stay in the know. Anytime. Anywhere.

Subscribe to get daily news updates, insights and must reads delivered straight to your inbox.

By clicking subscribe, I agree for my personal data to be used to send me TODAY newsletters, promotional offers and for research and analysis.