Ilon Musk says he may pull out of deal to buy Twitter

Home / Ilon Musk says he may pull out of deal to buy Twitter

Elon Musk said he may pull out of the deal to buy Twitter because the company does not want to comply with his demands for information about spam and fake social networking accounts.
In turn, the businessman demanded more information from the company.
“This is a clear material breach of Twitter’s obligations under the merger agreement, and Mr. Musk reserves all rights arising therefrom, including his right not to complete the transaction and his right to terminate the merger agreement,” the letter filed with the Securities and Exchange Commission (SEC) said.
The commission announced this on Monday.
Musk’s lawyers argue that Twitter failed to comply with the requirements set forth in the merger agreement, which gives Musk the right to compel the company to provide any information related to the completion of the transaction.
“At this point, Mr. Musk believes that Twitter has openly refused to comply with its obligations under the merger agreement, raising additional suspicions that the company is withholding requested data because of concerns about Mr. Musk’s own analysis of that data being released,” the letter reads.

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