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Elon Musk will cancel the Twitter deal, if these terms are not accepted

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HIGHLIGHTS :

  • The letter said that Twitter was infringing on its rights.
  • In March, Musk said that he would put the deal on hold temporarily.
  • Musk has been on social media since the Twitter takeover deal.

If social media giant Twitter fails to provide data on spam and fake accounts, it could end its $44 billion Twitter deal.

Elon Musk, the world’s richest person and owner of companies like Tesla and SpaceX, had made a deal to buy Twitter a few months ago, about which he has now said to cancel. Now Elon Musk has warned that he could end his $44 billion Twitter deal if social media giant Twitter fails to provide data on spam and fake accounts.

Alleged infringement of Twitter rights

Musk said this in a letter to the company on Monday. The letter said Twitter was infringing on its rights and Musk has the right to terminate the deal. Earlier in March, Musk said he would put the deal on hold temporarily if the social media company delayed providing data on the ratio of its fake accounts.

Let us tell you that after Musk acquired the micro-blogging site Twitter for about $ 44 billion a month ago, there was an uproar on social media. Since then, Musk has consistently been in the headlines of social media and news. Since then, Musk has been creating a ruckus on social media by tweeting something or the other. News agency PTI tweeted that according to news agency AP, Musk threatened to cancel Twitter’s $44 billion deal, accusing the company of hiding data about fake user accounts.

The letter said that Twitter was infringing on its rights.

Twitter said in a statement that he is sharing information with Musk and will continue to do so. The company said it believes the deal is in the best interest of all shareholders. It is expected to complete the transaction and close the deal at the agreed price and terms. It is believed that if Musk tries to stop the deal, then Twitter may also try to file a lawsuit in court to complete the deal.

Mr. Musk put the deal “temporarily on hold” in mid-May, saying he will not move forward with the offer until Twitter showed proof that spam bots account for less than 5% of its total users.

Since then, the takeover saga has seen several twists and turns, raising questions about Mr. Musk’s intentions to complete the deal at the set price.

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