Elon Musk said Saturday his planned $ 44 billion Twitter acquisition should move forward if the company can confirm some details on how it measures whether user accounts are “spam bots” or real people.
Tesla’s billionaire CEO and CEO are trying to pull back his April deal to buy a social media company, prompting Twitter to sue him last month to complete the acquisition. Contraposed muskaccusing Twitter of misleading its team about the true size of its user base and other issues it believed constituted a fraud and a breach of contract.
Both sides are headed for the October trial in Delaware Courthouse.
“If Twitter simply specifies a method to sample 100 accounts and validate them, the deal should be on the original terms,” Musk tweeted early Saturday. “But if their SEC filings are found to be materially fraudulent, it shouldn’t.”
Twitter declined to comment on Saturday. The company has repeatedly disclosed to the Securities and Exchange Commission estimates that less than 5% of user accounts are fraudulent or spam, with the caveat that it may be higher. Musk resigned from further due diligence by signing a merger agreement in April.
Twitter argued in court that Musk was deliberately trying to fend off the deal as market conditions have worsened and the acquisition is no longer serving his interests. He describes his counterclaims in the court court on Thursday as an imaginary story “contradicted by evidence and common sense.”
“Musk comes up with statements that Twitter has never made, and then tries to selectively use the voluminous confidential data that Twitter has provided him to conjure up a violation of these alleged statements,” the company’s lawyers wrote.