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Tesla CEO Threatened To Pull Out Of The Twitter Deal.
Musk has threatened to end the $44 billion deal to buy Twitter. He accused the firm of refusing to give him information about its spam bot accounts.
Lawyers for the Tesla and SpaceX CEOs made the threat in a letter to Twitter included in a filing with the Securities and Exchange Commission.
According to Musk, Twitter is in "clear material breach" of its obligations, and Musk reserves all rights to terminate the merger agreement.
Tesla billionaire Elon Musk has threatened to walk away from the deal for the first time in writing rather than on Twitter.
Twitter previously downplayed Musk's warning that the deal was "on hold," asserting that the data would help him prepare to own Twitter, not to conduct due diligence and reopen negotiations.
Musk had previously said he would put the deal "temporarily on hold" while he awaits data from Facebook on how many fake accounts it has.
Twitter's CEO has said the number of fake accounts is less than 5% when measuring daily users, which the company has previously cited in quarterly filings.
"Musk believes that Twitter has been transparently refusing to comply with its merger agreement, creating further suspicion that the company is withholding the requested data," Musk stated in the letter.
A self-proclaimed free-speech absolutist, Musk has questioned the accuracy of Twitter's public filings about spam accounts representing less than 5% of its user base, claiming they must be at least 20%.
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