Elon Musk has thrown his $44 billion deal to buy Twitter into jeopardy, saying the company has not provided enough information about spam bots on its platform..
In a letter to Twitter on Monday, Musk’s lawyers said the company had failed to comply with his requests for data on fake accounts, and that he was therefore suspending the deal..
Twitter’s shares fell 5% in premarket trading on Tuesday following the news..
Musk has repeatedly questioned Twitter’s claims that less than 5% of its users are bots, and has said that he believes the number is much higher..
Twitter has said that it is not able to provide Musk with all of the data he has requested, because some of it is confidential..
The company has also said that it has been working to reduce the number of bots on its platform, and that it has made progress in doing so..
However, Musk has not been convinced by Twitter’s explanations, and has said that he is not willing to proceed with the deal until he gets the data he wants..
Twitter’s board of directors has said that it is committed to closing the deal with Musk, and that it is working to provide him with the information he needs..
However, it is unclear whether Musk will be satisfied with the information that Twitter provides, and whether the deal will ultimately go through..
If the deal does not go through, Musk could face a $1 billion breakup fee..
Twitter could also sue Musk for breach of contract..
The uncertainty surrounding the deal is likely to weigh on Twitter’s stock price in the coming weeks..
Analysts say that the deal is still likely to go through, but that there is a risk that it could fall apart..
According to a recent poll by Wedbush Securities, 70% of investors believe that the deal will ultimately go through..
However, 30% of investors believe that the deal is at risk of falling apart..
The uncertainty surrounding the deal is likely to continue until Musk and Twitter reach an agreement on the data that Musk has requested..
