Elon Musk is Looking to End His Deal to Buy Twitter
By: Bowie Zeng
Elon Musk is trying to end his $44 billion bid to buy Twitter, claiming that Twitter has breached multiple aspects of their agreement.
Musk put the deal on hold in May because he wanted Twitter to provide enough data on the number of spam and fake accounts among its users to support the company's claim that spam and bot accounts account for less than five percent of its total users.
On Thursday, even though Twitter said it removed around one million spam accounts each day, Musk said he still believes that spam or bot accounts could account for 20% or more of Twitter users.
Musk said that the reason he wished to terminate the deal was because Twitter had repeatedly refused to provide information about the number of bot accounts. In order to stop this deal, Musk still needs to prove that Twitter breached their agreement.
According to a letter the billionaire’s lawyer filed with the U.S. Securities and Exchange Commission: "Sometimes Twitter has ignored Mr. 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."
Twitter says it plans to pursue legal action to enforce the agreement.