Twitter Inc. reiterated that it will hold Elon Musk accountable to the terms of his proposed $44 billion takeover offer after the billionaire again threatened to pull out of the deal over the issue of bots.
In a securities filing on Monday, Musk said he believes Twitter is breaching their agreement by not meeting his demands for more information about spam and fake accounts. Last month, Musk said he wouldn’t proceed with his offer unless the social media giant can prove bots make up fewer than 5% of its users, as the company has stated in public filings. Musk has estimated that fake accounts make up at least 20% of all users.
In a statement, Twitter said it “has and will continue to cooperatively share information” with Musk. The company said it believes the deal is in the best interest of all shareholders and intends to “close the transaction and enforce the merger agreement at the agreed price and terms.”
