Elon Musk and Twitter: a timeline of the $44bn deal that threatens to crumble
It’s been a long and winding saga for the social media company and the Tesla CEO, filled with threats, breaches and ‘poison pills’
Elon Musk on Monday made his most viable threat yet to walk away from a $44bn deal
to buy Twitter, accusing the company of committing a “material breach”
by failing to disclose the number of bots on the platform.
The letter was published on the website of the US financial watchdog on Monday.
He had previously tweeted that the deal “cannot move forward” until the spam and fake account issue had been resolved.
His move is the most concrete to suggest he may be reneging on his deal to purchase
the social media platform and is the latest in a long and winding saga between the Tesla executive and the social media platform.
In a 4 April filing to the US Securities and Exchange Commission (SEC), Musk said he had bought up almost $3bn in Twitter shares, making him the platform’s largest shareholder with a 9.2% stake.