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Why I May Be Terminating $44billion Twitter Deal – Elon Musk

The Chief Executive Officer of Tesla and Space X had struck a deal to buy the microblogging platform back in April 2022.

Billionaire American businessman, Elon Musk, has said he may be terminating the $44 billion Twitter deal.
The Chief Executive Officer of Tesla and Space X had struck a deal to buy the microblogging platform back in April 2022.


In a letter, Mike Ringler, a lawyer sent to a Securities and Exchange Commission filing, on Musk’s behalf, the businessman said, “Twitter has not complied with its contractual obligations.”
He claimed that Twitter did not provide Musk with relevant business information he requested.
Musk has previously said he wanted to assess Twitter’s claims that about 5% of its monetisable daily active users (mDAUs) are spam accounts.
“Twitter has failed or refused to provide this information. Sometimes Twitter has ignored Mr. Musk’s requests, sometimes it has rejected them for reasons that appear to be unjustified, and sometimes it has claimed to comply while giving Mr. Musk incomplete or unusable information,” the letter read.
Ringler also charged in the letter that Twitter breached the merger agreement because it allegedly contains “materially inaccurate representations.”
The accusation is based on Musk’s own preliminary review of spam accounts on Twitter’s platform.
Twitter has said it’s not possible to calculate spam accounts from solely public information and that a team of experts conducts a review to reach the 5% figure.
“While this analysis remains ongoing, all indications suggest that several of Twitter’s public disclosures regarding its mDAUs are either false or materially misleading,” the letter read.
He also claimed Twitter breached its obligations under the agreement to get Musk’s consent before changing its ordinary course of business, pointing to recent layoffs at the company.
Twitter is yet to comment on the development.
Musk was also recently in the news when his transgender daughter applied to legally change her name and gender, saying she no longer wants to "be related to my biological father in any way, shape or form".
SaharaReporters had reported that the 18-year-old was known as Xavier Alexander Musk but asked to be recognised as female and known as Vivian Jenna Wilson.
The petition to have the name change and get a new birth certificate was filed with the Los Angeles County Superior Court in Santa Monica.
Her request is set out in court documents filed in April, which have only recently come to light.
There was no further detail of the apparent rift between Musk's daughter and her father.
The Tesla and Space X entrepreneur was married to Vivian's mother, Canadian author Justine Wilson, from 2000 until they divorced in 2008.