Elon Musk said in his statement to the SEC that he can stop buying Twitter.
Elon Musk is likely to withdraw from the $41.4 billion deal, as Elon Musk disagrees with Twitter over the company’s reluctance to release information about its user base.
Elon Musk, in his statement to the SEC, said:
“This is a flagrant breach of Twitter’s obligations under the merger agreement and Mr. Musk reserves all rights arising from this, including the right not to complete the transaction and the right to terminate the merger agreement”
argued that he had the right to withdraw from the agreement.
The notice said Twitter only published limited data about its users and that its “latest offering” only contained information about the company’s testing methodologies.
Elon Musk has previously stated that he is putting the deal “on hold” to confirm reports that less than 5% of Twitter accounts are spam or fake.
