Elon Musk is trying to pull out of the $44 billion Twitter deal

ELON Musk is reportedly threatening to back out of his Twitter deal.

The richest man in the world recently offered to buy Twitter for $44 billion, but the deal didn’t quite go to plan.

Elon Musk still hasn't finalized his Twitter deal


Elon Musk still hasn’t finalized his Twitter dealPhoto credit: Reuters

The deal showed cracks when Musk asked to investigate how many Twitter user profiles actually belonged to spam accounts.

Musk stated the deal was “on hold” while that issue was resolved.

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According to the BBC, attorney Mike Ringler wrote in the letter: “As a potential owner of Twitter, Mr Musk is clearly entitled to the requested data in order to prepare for the transfer of the Twitter business into his ownership and to facilitate his transaction financing.

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“To do both, he must fully and accurately understand the core of Twitter’s business model – its active user base.

The letter continues: “Based on Twitter’s past conduct and particularly the company’s recent correspondence, Mr. Musk believes that the company is actively resisting and frustrating its rights to information.

“This is a clear material breach of Twitter’s obligations under the Merger Agreement and Mr. Musk reserves all rights arising therefrom, including his right not to consummate the Transaction and his right to terminate the Merger Agreement.”

It’s unclear when Musk would end the deal if he decides to do so.

The Twitter board accepted his offer in April and the process progressed until it reached that impasse.

Musk could face a lawsuit if he backs out of the deal now.

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Twitter said, “Twitter has and will continue to cooperatively share information with Musk to complete the transaction pursuant to the terms of the merger agreement.”

Shares on Twitter fell today as deal talks continued.

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Chris Barrese

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