Elon Musk Abandons Twitter Purchase Deal

Elon Musk Abandons Twitter Purchase Deal - Sakshi Post

Tesla CEO, Elon Musk on Friday announced that he was terminating his $44 billion deal to busy Twitter. On Friday, in a filing with US Securities and Exchange Commission (SEC), Musk’s team claimed that he is terminating the deal because the micro-blogging site Twitter had breached multiple provisions of the merger agreement.
“For nearly two months, Musk has sought the data and information necessary to make an independent assessment of the prevalence of fake or spam accounts on Twitter’s platform’,” Musk’s legal team wrote.
“Twitter has failed or refused to provide this information,” they added.
Twitter board chairman Bret Taylor wrote that the company will “pursue legal action to enforce the merger agreement” and feels “confident we will prevail” in court.
Musk is trying to abandon the provisionsTwitter purchase deal after signing on it, claiming it has released false stats. However, Twitter kept all its efforts to reach out to the expectations of Elon Musk. 
In early June, the company opened up ‘fire hose’ access to its services, so that Elon musk can see every tweet when tweeted. The company has also continuously tried to reassure the public that it has spam or bots under control.
“This whole process has been bizarre,” said Christopher Bouzy, founder of research firm Bot Sentinel, which tracks fake Twitter accounts used for disinformation or harassment. “He knew about this problem. It’s odd that he would use bots and trolls and inauthentic accounts as a way of getting out of the deal.”
Bouzy further stated that the letter from Musk’s legal team makes some valid critiques of Twitter’s lack of transparency, including its apparent refusal to provide Musk with the same level of internal data it offers some of its big customers.

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