Elon Musk Says Twitter Is ‘Resisting’ Terms of Deal, Threatens Termination
Elon Musk Says Twitter Is ‘Resisting’ Terms of Deal, Threatens Termination

By Jack Phillips

Elon Musk accused Twitter of “resisting and thwarting” his ability to obtain information about bot accounts on the social media website, saying that it’s a “breach” of the terms of their April deal.

Musk, the world’s richest person, sent a letter to the San Francisco-based firm on Monday, saying, “Mr. Musk reserves all rights resulting therefrom, including his right not to consummate the transaction and his right to terminate the merger agreement.” Several weeks ago, the Tesla CEO accused Twitter of allowing a significant number of automated or “bot” accounts on the platform and demanded the company release that data to him.

In late April, Twitter’s board and Musk jointly announced he would purchase the social media company for $44 billion and take it private. The deal could take months to finalize, and Musk has publicly stated that it’s not entirely confirmed he will actually buy Twitter.

After the letter was released on the U.S. Securities and Exchange’s website, shares for Twitter fell more than 5 percentage points as of Monday morning.

“As Twitter’s prospective owner, Mr. Musk is clearly entitled to the requested data to enable him to prepare for transitioning Twitter’s business to his ownership and to facilitate his transaction financing,” Musk’s letter continues. “To do both, he must have a complete and accurate understanding of the very core of Twitter’s business model—its active user base.”

And “Musk is not required to explain his rationale for requesting the data, nor submit to the new conditions the company has attempted to impose on his contractual right to the requested data,” the letter said. “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.”

Last month, Musk stated that his team wanted to perform a random sampling to calculate the number of fake accounts. However, Twitter’s CEO, Parag Agrawal, later explained that nonpublic information would be required to obtain an accurate count.

But with Monday’s letter, some analysts speculated that Musk is trying to exit the deal with Twitter.

“Speaks to our thesis over past few weeks that spam/bot issue was going to be the ‘material breach’ cited by Musk to try to get out of TWTR deal,” Wedbush analyst Dan Ives wrote on Twitter. “$1 billion breakup fee; Twitter Board will fight this clearly. Help remove a major overhang on Tesla; Twitter stock be under pressure.”

Affiliate News Feeds

  • Reuters
  • Washington Examiner
  • The Federalist
  • The Epoch Times
  • The Guardian
  • The Gateway Pundit
  • Judicial Watch

By Robert Genetski News Analysis The 2022 midterm elections show U.S. voters are more sharply divided than at any time since the 2000 election. Not only did voters split control over… [...]

By Newt Gingrich Commentary The new Republican majority in the U.S. House will face a major challenge dealing with the Democrat-run White House and U.S. Senate. So, it is vital… [...]

The University of Florida College of Medicine has scrubbed its website of mentions of Black Lives Matter and other racialized content after a report highlighted the medical school's implementation of… [...]

Several Senate Republicans have reiterated their demand that the U.S. military drop its coronavirus vaccine mandate and urged Republican leadership to use the National Defense Authorization Act as leverage in… [...]

The Poynter Institute is recapturing control of the masses by streamlining and centralizing the fact-checking industry. [...]

Twitter CEO Elon Musk, who only took the reins of the company this fall, admitted the Silicon Valley tech giant interfered in past elections. [...]

News Analysis The 2022 midterm elections show U.S. voters are more sharply divided than at any time since the 2000 election. Not only did voters split control over Congress, but… [...]

Sen. Rand Paul (R-Ky.) and 19 other senators are threatening not to vote for new defense spending unless there’s also a vote to end the military’s COVID-19 vaccine mandate. “We’re… [...]

Exclusive: Evidence to UK Covid inquiry describes missed chances to improve test-and-trace regime in early days of pandemicPublic health leaders were slow to act on repeated warnings over Christmas 2020… [...]

Former lady-in-waiting to queen issues apology after Ngozi Fulani questioned over where her ‘people’ came fromThe late queen’s lady-in-waiting has resigned and apologised after a black guest at a reception… [...]

They’re getting ready to throw Joe Biden in the garbage can. The Democrats are rebranding and promoting the younger generation to leadership positions. Pelosi, Hoyer and Clyburn earlier this month… [...]

Former President Bill Clinton, 76, on Wednesday said he tested positive for Covid-19 and is experiencing mild symptoms. “I’ve tested positive for Covid. I’ve had mild symptoms, but I’m doing… [...]

(Washington, DC) – Judicial Watch announced today that it filed a Freedom of Information Act (FOIA) lawsuit against the U.S. Department of Homeland Security (DHS) for all records of communications… [...]

Though years ago India passed a sweeping law giving transgender people rights—and prohibiting discrimination in education, employment, and healthcare—the Biden administration is spending American taxpayer dollars to counter stigma and… [...]

NH Politician

NH POLITICIAN is owned and operated by USNN World News Corporation, a New Hampshire based media company specializing in the collection, publication and distribution of public opinion information, local,...