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Musk says he may drop Twitter deal if data on fake accounts not provided

This is the first time Musk has threatened to walk away from the $44-bn deal in writing as opposed to airing it on Twitter's social media platform

Elon Musk. Photo: Bloomberg
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Elon Musk. Photo: Bloomberg

Reuters
Elon Musk on Monday warned that he might walk away from his $44 billion offer to acquire Twitter Inc if the social media network failed to provide data on spam and fake accounts.

In a letter to Twitter, the billionaire reiterated his request for details on bot accounts and said he reserved all rights to terminate the merger as the company was in a "clear material breach" of its obligations by not providing him with the information.

Twitter shares were down 5.5% at $38.13 and were trading at a steep discount to Musk's offer of $54.20 per share, suggesting that investors did

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)