Musk Threatens To Halt $44bn Twitter Buyout Over 'Material Breach'
The Guardian|June 07, 2022
Elon Musk has accused Twitter of committing a "material breach" of his $44bn (£35bn) agreement to buy the company and has threatened to terminate the deal, in the clearest indication yet that the world's richest man is preparing to walk away from the takeover.
Dan Milmo
Musk Threatens To Halt $44bn Twitter Buyout Over 'Material Breach'

Musk's lawyers have written to Twitter accusing it of refusing to provide sufficient information about the number of false users on the service, as part of a simmering dispute over the number of spam and fake accounts that populate the platform.

In a letter to Twitter's chief legal officer, Vijaya Gadde, lawyers representing the Tesla CEO said he believed the company was "actively resisting and thwarting" his rights to access data and information from the company under the agreement. The letter said Twitter had failed to provide the information requested by Musk since 9 May, adding that a formal response from the social media platform on 1 June was insufficient.

"Twitter's latest offer to simply provide additional details regarding the company's own testing methodologies, whether through written materials or verbal explanations, is tantamount to refusing Mr Musk's data requests," said the letter from the US law firm Skadden, Arps, Slate, Meagher & Flom.

This story is from the June 07, 2022 edition of The Guardian.

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This story is from the June 07, 2022 edition of The Guardian.

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