Elon Musk Threatens To Drop Twitter Deal Citing Their “Material Breach”

Elon Musk sent a letter to Twitter calling off the $44 billion deal unless they can provide more information about bots and spam on the platform.
Share on social

On Monday, Elon Musk accused Twitter of “resisting and thwarting” his right to investigate how many fake, spam accounts are found on the platform. His attorney called it a “clear material breach” of the their merger agreement in a letter.

YouTube player

“Mr. Musk reserves all rights resulting therefrom, including his right not to consummate the transaction and his right to terminate the merger agreement,” wrote Musk’s attorney Mike Ringler for Skadden.

Last month, Musk also tweeted that he would put the deal on hold unless he found out the truth about how many bots Twitter has on it.

“20% fake/spam accounts, while 4 times what Twitter claims, could be *much* higher. My offer was based on Twitter’s SEC filings being accurate. Yesterday, Twitter’s CEO publicly refused to show proof of <5%. This deal cannot move forward until he does,” wrote Musk on May 16.

Many online saw the move as the billionaire attempting to lower the price of the company at the time, but he does not appear to be backing down from the statement. At the time, Musk said he would conduct a random sampling of followers to see how many accounts were fake. According to Bloomberg, Twitter execs told employees that there was “no such thing” as halting the deal to investigate the claim.

Now, Musk’s attorney is claiming the opposite. “To the contrary, Mr. Musk is entitled to seek, and Twitter is obligated to provide, information and data for, inter alia, ‘any reasonable business purpose related to the consummation of the transaction,’” the letter read.

Biden Forced Into Hiding During Vacation After Aircraft Flew By His House

“At this point, Mr. Musk believes Twitter is transparently refusing to comply with its obligations under the merger agreement, which is causing further suspicion that the company is withholding the requested data due to concern for what Mr. Musk’s own analysis of that data will uncover,” it continues.

In the letter, Musk agrees to sign a non-disclosure agreement so that “sensitive information” could not be used if the deal doesn’t happen.

This also comes a day after the world’s richest man asked on Twitter why the Department of Justice never investigated disgraced pedophile Jeffrey Epstein’s client list. A question that many online have wondered at.

Musk shared the meme on twitter reading, “Only thing more remarkable than DOJ not leaking the list is that no one in the media cares. Doesn’t that seem odd?”

He followed up with a tweet saying, “Sometimes I think my list of enemies is too short, so…”

At the time of the publishing of this article, Twitter was down 4% over news of the deal possibly being taken off the table.

Do you think Elon is trying to get a lower price on Twitter or is he really planning to not buy it?

Elon Musk Threatens To Drop Twitter Deal Citing Their “Material Breach”

Joel Bailey

Joel Bailey is a social commentator and writer at the Next News Network. He graduated from Fisher College in Boston, Massachusetts and was adopted from Africa. He is proof of the American dream and learned conservative values at a young age.
Stay Updated

Get us in your inbox

By subscribing you agree to our Privacy Policy

New & Trending
Latest Videos
sponsored
Follow us