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BREAKING: Musk Twitter Bid Now In Limbo, Musk May Walk Away


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We are all holding our breath…

The ongoing drama between Elon Musk and Twitter continues to escalate. Previously, we reported that fraudulent bot count numbers were putting a damper on the deal.

Now, Elon Musk’s legal team has issued an official letter to Twitter threatening to pull out of the deal entirely due to the bot count issues.

Previously, Musk speculated that automated bots accounted for anywhere between 20-90% of registered accounts on the social media network.

If the number falls anywhere in that range that would mean Twitter misrepresented its user counts—one of the most important metrics for valuing a social media company, to the S.E.C.

Here is the latest development in the ongoing Twitter deal:

The Associated Press reports:

The lawyers say that based on Twitter’s latest correspondence, Musk believes the company is resisting and thwarting his information rights under the April merger agreement.

“This is a clear material breach of Twitter’s obligations under the merger agreement and Mr. Musk reserves all rights resulting therefrom, including his right not to consummate the transaction and his right to terminate the merger agreement,” the letter says.

 

The Post Millennial adds:

Musk has been adamant throughout the process that he needs to know how many of the accounts on Twitter are actual humans.

There is speculation that if the number is higher than Twitter execs have reported, Musk could negotiate a new buying price that’s less than the $44 billion initially offered and agreed to.



 

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