Possible withdrawal of his offer | Elon Musk accuses Twitter of withholding information

(New York) New twist in the saga of the Twitter takeover by Elon Musk: The entrepreneur now claims in an official document that Twitter “actively” resists his requests for information about spam and fake accounts and is therefore threatening to withdraw his offer.

Posted at 9:41 am
Updated at 11:42 am

Julia Michele
Media Agency France

The multi-billionaire believes that Twitter is violating its obligations by not providing it with all the data it has requested on the matter, according to a letter addressed to the social network’s legal director and published on the American Financial website was published Market Inspectorate (DRY).

“Mr. Musk reserves all rights arising hereunder, including his right not to complete the transaction and his right to terminate the merger agreement,” he added.

The head of Tesla and SpaceX, who in April made a bid to buy the social network for $44 billion, has repeatedly questioned data on spam and fake accounts provided by Twitter and measures taken to limit their spread placed. And he has already threatened on his Twitter account to put the agreement “on hold”.

However, this is the first time he has done so in an official document.

According to Wedbush’s Dan Ives, this new incident shows that Mr. Musk is “looking for a way to break the agreement.”

Twitter’s board of directors “will certainly oppose this version of events,” the analyst added in a tweet.

Musk’s recent criticism of Twitter has also sometimes been interpreted as an opportunity for the contractor to revise down the amount of the agreement.

The company did not immediately respond to a request from AFP.

Both parties have agreed to pay up to $1 billion in severance, subject to certain circumstances.

argument about the methodology

Twitter estimates that, based on its own analysis, the number of fake accounts and spam on the social network accounts for less than 5% of its daily active users.

But Mr Musk says the methodology used by Twitter is not “reasonable” and he has to do his “own analysis”. He had “repeatedly” asked the social network for more information, the letter said.

“Twitter’s recent offer to simply provide additional details on its testing methods, whether through written documents or verbal explanations, is tantamount to disputing Mr. Musk’s claim to data,” he writes in the document.

However, it also states that the entrepreneur needs more information in order to prepare the transition and complete the financing of the operation.

After previous criticism of Mr. Musk, the head of the social network Parag Agrawal split off a long statement on measures to combat spam and fake accounts in mid-May.

Mr Agrawal specifically pointed out that Twitter’s numbers “are based on multiple reproductions of human analysis from accounts chosen at random”.

The quirky entrepreneur had responded to these statements with an emoji in the shape of a poop. “How can advertisers know what they are really paying for? ‘ he also tweeted. “This is a fundamental question for Twitter’s financial health. »

This new episode in the saga of the Twitter takeover comes after Friday’s deadline granted by US competition authorities to conduct a thorough review of the operation. They did not record the file, leaving the field open to further complete the transaction.

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