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Elon Musk Wants to Back Out of his Deal to Buy Twitter

By: Bryan Li

BBC says that Musk wanted to back out because Twitter did not provide information on the amount of fake accounts. Twitter is not happy and is trying to use legal action to force Musk to buy twitter.

BBC claims that Musk put the deal “on hold” until Twitter could provide information on spam accounts and prove that they made up less than 5% of the total. "Sometimes Twitter has ignored Mr. Musk's requests, sometimes it has rejected them for reasons that appear to be unjustified, and sometimes it has claimed to comply while giving Mr. Musk incomplete or unusable information," Musk’s lawyer said in a letter.

Elon Musk may not be able to back out of the deal, and BBC says that to do so he needs to prove that Twitter breached their deal. Musk might have other motives for backing out. For example, the Tesla stock’s share price has dropped ever since he announced that he might buy Twitter.

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