Possible to withdraw its offer | Elon Musk accuses Twitter of withholding information

(New York) New twist in Elon Musk’s Twitter takeover saga: Entrepreneur now confirms in official document that Twitter is “actively resisting” his requests for information about Spam emails And fake accounts and thus threatens to withdraw his offer.

Posted at 9:41 AM
Updated at 11:42 am

Juliette Michael
France media agency

The billionaire believes that by not providing him with all the data he requests on the subject, Twitter is in breach of his obligations, according to a letter addressed to the legal director of the social network and posted on the website of the US authority. From Financial Markets (DRY).

It added that “Mr. Musk retains all of the resulting rights, including his right not to complete the transaction and his right to terminate the merger agreement.”

The head of Tesla and SpaceX, which in April made an offer to buy the social network for $44 billion, has already questioned on several occasions about the data that Twitter sends on spam and fake accounts and the measures taken to limit its spread. He has already threatened on his Twitter account to suspend the agreement.

But this is the first time he has done so in an official document.

According to Dan Ives, of Wedbush, this new incident shows that Mr Musk is “looking for a way to ditch the agreement”.

The analyst added in a tweet that Twitter’s board of directors would “definitely oppose” this version of events.

Mr. Musk’s recent criticism of Twitter has also been sometimes interpreted as a way for the contractor to review the amount of the agreement down.

The company did not immediately respond to a request from AFP.

Both parties have pledged to pay severance payments of up to $1 billion in certain circumstances.

Methodological quarrel

Twitter estimates that, according to its own analysis, the number of fake accounts and Spam emails On the social network it accounts for less than 5% of daily active users.

But Mr Musk says the methodology Twitter uses is not “appropriate” and that he should do his “own analysis”. The letter claims he “repeatedly” asked the social network for more information.

“Twitter’s recent offer to simply provide additional details regarding its testing methodologies, whether through written documents or verbal explanations, is a denial of Mr. Musk’s claims for data.” wrote in the document.

However, it is also mentioned there, the entrepreneur needs more information to prepare for the transition and finalize the financing of the process.

Following earlier criticism of Mr. Musk, social media network chief Paraj Agrawal split mid-May about a lengthy explanation of measures taken to combat spam and fake accounts.

In particular, Mr. Agrawal noted that Twitter’s numbers are “based on multiple versions of human analyzes of accounts, which are randomly selected”.

The eccentric businessman responded to these interpretations with an emoji in the form of a tube. “How can advertisers know what they are really paying?” he tweeted. This is a fundamental question for Twitter’s financial health. »

This new episode of the Twitter acquisition saga comes after the deadline given to US competition authorities expired, Friday, to launch a comprehensive examination of the process. They did not take possession of the file, thus leaving it free to continue completing the deal.

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