Elon Musk threatens to abandon USD 44 Billion Twitter deal due to data being withheld!

Elon Musk's Twitter acquisition deal hangs in the balance again. This is after Twitter allegedly kept information essential for Musk's investigation.
Elon Musk threatens to abandon USD 44 Billion Twitter deal due to data being withheld!
Elon Musk X Twitter merger hits another snag!

Elon Musk demands access to Twitter's data or the deal is off

The investigation involves Musk and his team checking how much of Twitter are fake accounts. Twitter says that less than 5 percent of its user base are fake accounts or bots. Musk wanted to conduct his own study but the social media giant refused to provide the necessary data to do so.

Musk's team submitted a letter to the SEC stating that they do not believe that Twitter's "lax testing methodologies" are enough to determine the proportion of fake accounts, therefore, calling for a need for their own investigation.

In addition, Musk's team believes that under the merger agreement Twitter is obligated to provide the necessary data and the latter is refusing to comply. The full letter to the SEC is available here if you want to read it in full.

Twitter's methodology in question involves internal data available to the social media company only. Lacking that data, Elon Musk and his team cannot accurately determine the estimation of bot accounts on the site.

What do you guys think?

Source: Bloomberg
Elon Musk threatens to abandon USD 44 Billion Twitter deal due to data being withheld! Elon Musk threatens to abandon USD 44 Billion Twitter deal due to data being withheld! Reviewed by Telenor Editorial on June 07, 2022 Rating: 5

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