Elon Musk is backing out of the Twitter deal

By Patch | Things of note and other interesting stuff | 8 Jul 2022

Just now it was made public that Elon Musk is looking to terminate the $44B deal to buy Twitter.

Not enough data

Elon is claiming that lack of Data is the reason for him backing out of the deal. The data that is lacking, to be more exact is the data about spam and fake accounts. According to Elon, he has been requesting the data for quite some time now. And Twitter has yet to make it available to him.

In short, Twitter has not provided information that Mr. Musk has requested for nearly two months notwithstanding his repeated, detailed clarifications intended to simplify Twitter’s identification, collection, and disclosure of the most relevant information sought in Mr. Musk’s original requests. -Letter filed for the SEC

This has led to him terminating the deal. In accordance with sections 6.4 and 6.11 in the deal. No idea what these sections say exactly. But I assume it is about being forthcoming with information.

Twitter is not taking this news lightly. And according to a tweet made by Twitter chairman Bret Taylor. They are looking to take legal action to try and keep Elon to the original deal.

What is your thought on this, have Elon gotten cold feet and realized that he probably can't make money where no one else could? Or has he perhaps realized that there are too many fake accounts and bots, much more than he initially thought? Or is there some other reason for him to back out? Please share your thoughts on this whole affair down in the comment section.

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