Billionaire CEO of Tesla and SpaceX had demanded social media giant prove that spam bots made up fewer than 5% of its users.
Billionaire Elon Musk is seeking to break his agreement to buy Twitter for $44 billion, claiming the Bay Area social-media giant refused to tell him how many of the accounts on its platform were fake.
Musk had been trying to get that information since early May, after reaching an agreement in late April to buy the San Francisco company, according to a letter to Twitter’s board filed Friday with the U.S. Securities and Exchange Commission. Musk had demanded Twitter prove spam bots made up fewer than 5% of its users.
“Mr. Musk has been clear that he views Twitter’s non-responsiveness as a material breach of the Merger Agreement giving him the right to terminate the Merger Agreement if uncured,” said the letter from a law firm.The deal included a $1 billion break-up fee to be imposed on Musk if he pulled out. It was not clear whether he would pay the fee, whether Twitter would accept it, or whether his withdrawal from the agreement would lead to a court battle.
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