Elon Musk Threatens to walk away from twitter deal

In the month of April 2022, Elon Musk made into the news for buying Twitter for $54.20 a share that making a grand total of $44 billion which was a shocker to many.

Now the next big news is that Elon Musk is threatening to walk away from his $44 billion bid to buy Twitter, accusing the company of refusing to give him information about its spam bot and fake accounts.

Tesla and SpaceX CEO Lawyers made the threat in a letter on Monday to twitter that the company disclosed in a filing with the U.S. Securities and Exchange Commission.

The lawyers wrote that Musk has repeatedly asked for the information since May 9, about a month after his offer to buy the company, so he could evaluate how many of the company’s 229 million accounts are fake.

Twitter CEO Parag Agrawal has said that Twitter has consistently estimated that fewer than 5% of its accounts are spam. But Musk has disputed that, contending in a May tweet, without providing evidence, that 20% or more are bogus and wanted the exact data.

Musk's lawyers further wrote in the letter that Twitter has offered only to provide details about the company’s testing methods. But they contend that’s “tantamount to refusing Mr. Musk’s data requests,” and constitutes a “material breach” of the merger agreement that gives Musk the right to scrap the deal if he chooses.

To this Twitter said in a statement on Monday that it has been cooperatively sharing information with Musk “in accordance with the terms of the merger agreement” and noted that the deal is in “the best interest of all shareholders.”

They further said that "We intend to close the transaction and enforce the merger agreement at the agreed price and terms”

We will get to know more about this Elon Musk twitter deal as time passes.