Elon Musk is backing away from $44 billion deal to buy Twitter. He said that Twitter is to be blamed for its lack of cooperation for the smooth finalization of the deal. An attorney representing Musk’s interest maintained in a letter of the termination that Twitter breached the contract.
The letter claimed that, “For nearly two months, Mr. Musk has sought the data and information necessary to ‘make an independent assessment of the prevalence of fake or spam accounts on Twitter’s platform,'” the Friday letter reads. “This information is fundamental to Twitter’s business and financial performance and is necessary to consummate the transactions contemplated by the Merger Agreement.”
It continues: “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.”
On its reaction to Musk’s throwing in the towel, Twitter insisted that Musk must be compelled to honor the deal through legal process of the court.