With the latest learning that Elon Musk has already threatened to cancel the Twitter takeover, Washington Post sources yesterday reported that Elon Musk’s $44 billion deal ” in danger ”, because Musk’s camp ” stopped getting into certain discussions about funding »
Last night, Musk’s team finally sent a document to Twitter’s legal director for ” may terminate the merger agreement between the two parties for “material breach”. agreement and false and misleading statements The deal was made by Twitter beforehand.
Elon Musk stops hacking Twitter for fake accounts
The American billionaire specifically accuses the company of inflating its user base with fake accounts to justify its withdrawal from the deal. Elon Musk claims that Twitter hasn’t done enough to expose the real number of spambots and fake accounts on the platform. according to the company, about 5% of the total number of users. Musk, for his part, disputed this claim, with a study proving that around 20% of accounts are robots.
” For nearly two months, Elon Musk has been trying to obtain the data and information needed to make an independent assessment of the prevalence of fake or spam accounts on the Twitter platform. He’s writing his team. ” Twitter was unable or refused to provide this information However, we do know that the company has finally granted him access to the so-called “firehose” API, which includes every single tweet posted on the platform.
In response, Twitter Head Bret Taylor said the social media giant is ready to sue Musk. ” Twitter’s board agrees to close the deal on the price and terms agreed with Musk, plans to take legal action to enforce the merger deal Bret Taylor tweeted Friday afternoon. ” We are confident we will prevail in the Delaware Chancery Court. “.
Although Elon Musk wants to withdraw from the contract, therefore It’s always possible for justice to force him to complete the transaction.. However, the most likely scenario is for Musk to pay severance pay of $1 billion. It is also useful to remember that The end of the deal does not mean that Elon Musk will never become the new owner of Twitter. Several investment firms had advised Musk to pull out of the deal and make a smaller offer that better suited the company’s current value. So he could renegotiate the purchase at a much more affordable price.and save several billion dollars in the process.
