Elon Musk has said his planned takeover of Twitter could take place if the company can confirm some details of how accounts are measured and whether they belong to real or fake people.
The billionaire CEO of Tesla tried to renege on an agreement he made last April to buy the social media platform company, prompting Twitter to sue him last month to complete the acquisition.
In response, Musk accused Twitter of misleading his team about the true size of the social network’s user base and other issues that he says amount to fraud and breach of contract.
In October next year, both parties will appear in court in the US state of Delaware.
And on Saturday morning, Musk said, “If Twitter just provides a method to fetch 100 accounts and how they’re verified to be real, the transaction should proceed on the original terms,” explaining that if the U.S. Securities Company’s data and the exchange turns out to be wrong, “it shouldn’t be like this.” That’s the way it should be,” Twitter declined to comment.
The company has repeatedly reported to the US Securities and Exchange Commission that less than 5 percent of its user accounts are fake or simply spam, with the caveat that the figure could be higher.
Musk waived his right to further due diligence when he signed the merger agreement last April.
Twitter argued in court that Musk deliberately tried to derail the deal because market conditions had worsened and the takeover was no longer in his best interest.
In a lawsuit filed Thursday, a company called Musk’s counterclaims put forward a fictional story that “contradicts evidence and common sense.”
Source: AB
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