Twitter has warned it will force through Elon Musk’s $44billion takeover at the ‘agreed price’ after he threatened to walk away from the deal.
The social media giant said it planned to ‘consummate the transaction’ with the billionaire after he blasted its bosses in his latest SEC filing.
It also said it would ‘cooperatively share information’ after he claimed it was ‘resisting and thwarting’ his right to details about spam pages on the platform.
He claimed he ‘reserves all rights’ to sink the takeover if the platform does not provide more about fake accounts on its website.
Texas Attorney General Ken Paxton revealed Monday that he was launching an investigation into Twitter for ‘potentially misleading Texans on the number of its “bot” users.’
Paxton argued he has a duty to protect Texans from the company if it is indeed misrepresenting bot data in an effort to drive up revenue. Musk became a resident of Texas in December 2020.
The social media network claimed earlier in the spam account battle it had submitted all necessary details but Musk dismissed it as just the methodology on finding bots.
Monday’s filing is not the first time Musk has threatened to pull the blockbuster deal, with it being ‘temporarily put on hold’ last month while he looked into fake accounts.
He claimed spam bots could make up at least half of Twitter’s users, which is more than 10 times the company’s official estimate.
He also tweeted last month he ‘cannot move forward’ with the purchase until he is provided the requested data.
Meanwhile Musk’s other ventures – SpaceX and Tesla – have been battered by his Twitter acquisition, with stocks plummeting amid fears he cannot juggle the work.
Read More: Twitter says it will FORCE through Elon Musk’s $44B takeover ‘at the agreed price’