Elon Musk Threatens To Walk Away From $44 Billion Twitter Buyout

Elon Musk has threatened to walk away from his $44 billion buyout of Twitter, accusing the company of providing false information regarding its spam bot accounts, the Associated Press reports.

Musk’s attorneys threatened the social media company in a letter dated Monday (June 6) — which Twitter included in a filing with the Securities and Exchange Commission — and state that Musk had repeatedly asked for information since May 9, about a month after his initial buyout offer, to evaluate how many accounts were fake.

The attorneys accused Twitter had offered to only provide details of its testing methods, which they claimed was “tantamount to refusing Mr. Musk’s data requests.”

Last month, revealed his deal to takeover Twitter was “temporarily on hold” while sharing a Reuters article on the social media platform estimating that spam and fake accounts comprise less than 5% of its users.

“Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users,” Musk tweeted early Friday (May 13) morning.

Twitter accepted Musk‘s $44 billion buyout as part of a deal that is expected to close in 2022, the company confirmed in a news release obtained by CNN on April 25.

The entrepreneur has been vocal about his goal to clean up the social media platform’s “spam bots,” which mimic real people and appears to have questioned whether Twitter was underreporting such accounts, however, it’s unclear what specifically led to the delay in the deal as the company didn’t immediately respond to requests for comment made by the Associated Press following Musk’s tweet on Friday.

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