Musk threatens to walk out of Twitter deal over 'material breach'

Musk threatens to walk out of Twitter deal over 'material breach'

FILE PHOTO: People holding mobile phones are silhouetted against a backdrop projected with the Twitter logo in this illustration picture taken September 27, 2013. REUTERS/Kacper Pempel/Illustration/File Photo

Elon Musk warned Twitter Inc on Monday that he might walk away from his $44 billion deal to acquire the social media company if it fails to provide the data on spam and fake accounts that he seeks.

This was not the first time Musk had suggested publicly his acquisition of Twitter may not happen. But the warning, delivered in a letter from Musk‘s lawyers to Twitter‘s chief legal officer, Vijaya Gadde, marked an escalation. It accused Twitter of being in “material breach” of its deal obligations.

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