It was at the end of April that Twitter’s board approved Musk’s acquisition of the company. A deal worth $ 44 billion, equivalent to SEK 440 billion.
Several trips
But Musk has previously paused the deal because he believes that there are many spam and fake accounts on Twitter.
Twitter has claimed that less than five percent of user accounts are fake, which Musk does not say he believes.
He has gained access to internal data on the number of fake accounts, but according to CNBC Elon Musk’s lawyer, Mike Ringler, has now sent a letter to Twitter stating that Musk wants to withdraw his bid as Twitter has not “fulfilled its contractual obligations”.
“Twitter has failed or refused to provide this information,” the lawyer wrote, adding that Twitter both “ignored” and “rejected” many of Musk’s questions.
The stock is falling
Twitter has not yet commented and it is unclear whether the company’s board will accept the fixed fee of 1 billion dollars to cancel the deal or whether it will be a lawsuit.
Already on Thursday, the Washington Post had information that Musk was about to withdraw from the purchase and since then, the Twitter share has fallen several percent.