Elon Musk threatens to walk away from Twitter deal

Business June 6, 2022 News
Elon Musk threatens to walk away from Twitter deal

From CNN | Business by Brian Fung, CNN Business

Elon Musk issued his most direct threat yet to walk away from his purchase of Twitter (TWTR) on Monday, openly accusing the social media company of breaching the merger agreement by not providing the data he has requested on spam and fake accounts.

There have been questions from the start about how Musk would finance the acquisition. Social media stocks have also taken a hit in recent weeks amid broader market jitters.

In a separate securities filing, Twitter previously disclosed that Musk had waived a due diligence clause in the deal that could have made it easier for him to back out of the agreement; without it, Musk could face a tougher climb, and the prospect of litigation.

Photo by Gregory Bull / AP

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