Elon Musk terminates attempt to buy Twitter, citing ‘multiple’ problems
- 09 Jul 2022
Elon Musk has terminated his attempt to buy Twitter, citing multiple problems with the deal.
Musk’s lawyers accused Twitter of having misled him about the nature of the company and the deal.
Twitter “appears to have made false and misleading representations upon which Mr. Musk relied when entering into the Merger Agreement”, lawyers said in a filing with the US Securities and Exchange Commission.
He has repeatedly said that Twitter executives have hidden the full extent of bots and automated accounts on the platform. Twitter has said that they account for less than 5 per cent of its active users – a number that Mr Musk said he would not believe until he had been able to check himself.
”For nearly two months, Mr. Musk has sought the data and information necessary to ‘make an independent assessment of the prevalence of fake or spam accounts on Twitter’s platform’” the filing continued.
“Twitter has failed or refused to provide this information. Sometimes Twitter has ignored Musk’s requests, sometimes it has rejected them for reasons that appear to be unjustified, and sometimes it has claimed to comply while giving Mr Musk incomplete or unusable information.”
Lawyers said that Mr Musk had asked for detailed information on how Twitter finds spam and fake accounts, and suspends them, as well as more detail on how it works out its daily active users.
The Independent
