Musk threatens to cancel his Twitter takeover deal

Billionaire Elon Musk on Monday threatened to end his deal to buy Twitter for $44 billion, accusing the company of refusing to release sensitive information about the actual number of users.

In a letter to the company on Monday, the Tesla and SpaceX founder accused Twitter of “resisting and thwarting” its right to know about the platform’s fake accounts. He called the social network executives’ refusal an “obvious material violation” of the terms of their takeover agreement.

“Elon Musk reserves all rights hereunder, including his right not to complete the transaction and his right to terminate the merger agreement,” reads the letter signed by one of the Tesla CEO’s lawyers.

Twitter stock was down 5% on Monday morning when Wall Street opened.

Elon Musk has complained in recent weeks about the “bot” issue on Twitter, saying the deal was “on hold” until the company proves the exact number of its spam accounts.

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