Will Elon Musk cancel the $44 billion deal with Twitter! TOU

Will Elon Musk cancel the  billion deal with Twitter!
 TOU

Will Elon Musk cancel the $44 billion deal with Twitter!

Musk has so far asked Twitter for information about fake accounts, to assess how many of Twitter’s total of 229 million accounts are fake. But Twitter has not made this information available to them yet.

last Elon Musk, who came into the limelight for buying social media platform Twitter, has taken everyone by surprise by announcing a surprise move. Musk alleges that despite repeated requests, the Twitter company is not giving him complete information about fake accounts. On behalf of Elon Musk, his lawyers yesterday warned of scrapping the deal in a letter to Twitter.

Billionaire businessman Elon Musk has also made it clear that he may withdraw from his offer of $ 44 billion if the microblogging site Twitter does not cooperate in the deal. According to the news received, Musk has alleged that the company has hidden the data of its fake consumer accounts. The news agency AP reports that Musk has accused Twitter of not providing him complete information about spambot accounts, ie fake accounts.

It is noteworthy that this letter sent by Elon Musk, CEO of giant companies like Tesla and SpaceX on behalf of his lawyers, has been added to Twitter’s filing yesterday with the Securities and Exchange Commission. Let us tell you that according to this letter, Elon Musk has asked Twitter for information about fake accounts several times since May 9, in order to assess how many of Twitter’s total 229 million accounts are fake. But Twitter has not provided this information to him yet.

Elon Musk cannot unilaterally cancel or postpone the deal with Twitter. But Musk says it certainly can. It is also being said that if they back down from this deal, they may also have to pay a ‘break-up fee’ of one billion dollars. Due to this controversy, since the market opened yesterday, the price of Twitter’s shares has seen a fall of more than 5 percent.

In that letter sent by Musk’s lawyers, it is written that Twitter has only agreed to explain the process of its investigation when Elon Musk asked for information. But according to the letter, this consent means that Twitter is refusing to provide the data requested by Musk. Whereas Elon Musk wants the data so that he can check it according to his own. Musk considers Twitter’s investigation method lax. Based on recent correspondence with Twitter, Musk suspects that he has a right to access information under the merger agreement reached last April, but Twitter is not going to give that right, the letter sent by lawyers said. Not ready, but work is being done to obstruct their path.

On the other hand, Twitter CEO Parag Aggarwal says that his company’s estimate has always been that fake accounts on Twitter are only 5 percent. Twitter has been sharing the estimates of its bot ie fake accounts with the Securities and Exchange Commission of America for many years, in which it is also the fact that its estimate may be much less than the true figure.

Experts say that Elon Musk cannot unilaterally cancel or postpone the deal with Twitter. But Musk says it certainly can. It is also being said that if they back down from this deal, they may also have to pay a ‘break-up fee’ of one billion dollars. Due to this controversy, since the market opened yesterday, the price of Twitter’s shares has seen a fall of more than 5 percent.

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