Elon Musk said on Saturday that his planned $44 billion acquisition of Twitter should go ahead if the company can confirm some details about how it measures whether user accounts are ‘spam bots’ or real people. .
The billionaire and Tesla CEO is trying to back away from his April agreement to buy the social media company, which led Twitter to sue him last month to complete the acquisition. Musk hit back, accusing Twitter of misleading his team about the true size of its user base and other problems, which he said were fraud and breach of contract.
Both sides are headed for an October trial in a Delaware court.
“If Twitter only provides its method of sampling 100 accounts and how they are confirmed to be genuine, the deal should proceed on the original terms,” Musk tweeted early Saturday. “However, if it turns out that their SEC filings are materially false, this should not happen.”
Musk, who has over 100 million Twitter followers, challenged Twitter CEO Parag Agarwal to a “public debate about Twitter bot percentage”.
Twitter declined to comment on Saturday. The company has repeatedly disclosed to the Securities and Exchange Commission that less than 5% of user accounts are fake or spam, with the disclaimer that it could be higher. Musk waived his right to due diligence after signing the April merger agreement.
Twitter has argued in court that Musk is deliberately trying to avert the deal and is using the bot question as an excuse because market conditions have worsened and the acquisition no longer serves his interests. In a court filing on Thursday, it described their counterarguments as a fable “contrary to evidence and common sense.”
The company’s attorneys wrote, “Musk invented representations that Twitter never made, and then selectively, the broad confidential data Twitter tried to provide him to acknowledge the breach of those alleged representations.”
While Musk has tried to focus on the bot disclosures, Twitter’s legal team has been digging around for information on several tech investors and entrepreneurs linked to Musk, which may have led to some of his personal communications with the Tesla CEO. can purify.