Elon Musk Is Pulling Out of the Twitter Deal Citing Material Breach of Multiple Provisions in the Agreement

On Friday, Elon Musk said that he was terminating his $44 billion deal to purchase the social media company Twitter. His lawyers sent a letter to the censorship tech tyrant company saying he is “terminating their merger agreement,” according to a filing the Tesla CEO made with the Securities and Exchange Commission on Friday.

So-called legal “experts” say that the SpaceX guy can’t just up and walk away from the deal. The agreement he made back in April included a commitment to go through the acquisition unless there was a major change to the business. Even though the experts are saying that nothing has taken place that meets that threshold, Musk cited a material breach of multiple provisions in the agreement.

Previously, Musk threatened to kill the deal with the company didn’t give him more data so that he could run his own analysis on the number of spam bots that are running around the site. The company admitted to 25% but other experts said it could be upwards of 40%. At one point, Twitter told reporters that it kicks over a million spam bot accounts per day off the site.

Musk was told by Twitter that the company can’t give up personal information from users like emails, names or IP addresses. That’s because that’s what the company uses to come up with its own reports on the number of bots on the site.

— THIS IS A DEVELOPING STORY —

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