Elon Musk threatens to scrap Twitter deal over ‘breach’ of agreement

Illustration by Kristen Radtke / The Verge; Getty ImagesElon Musk says that Twitter is in “clear material breach” of their $44 billion acquisition deal and that he could “terminate” the agreement in response. In a letter sent to Twitter this morning, Musk’s legal team claims that Twitter has failed to provide him with information on the service’s spam bot problem and that he’s entitled to receive that information under the deal agreement.
“Mr. Musk believes the company is actively resisting and thwarting his information rights (and the company’s corresponding obligations) under the merger agreement,” the lawyers write. The letter says Musk could choose “not to consummate the transaction” because of the alleged breach of contract.
Musk has been complaining about bots since shortly after he…

Continue reading…