Elon Musk has announced that he will permanently drop the deal to buy popular social networking site Twitter if he is not provided with enough data.
Elon Musk of the United States runs SpaceX, a space exploration company, and Tesla, a leading electric vehicle manufacturer. He has been active on social networking sites, including Twitter, and recently bought a 9.2 percent stake in Twitter. He later declined to attend a meeting of Twitter executives, which he was expected to attend.
Following this, Musk said that he was willing to pay $ 54.20 a share if Twitter sold 100 percent of the shares and would pay the total sale price in cash. Musk offered to buy Twitter for $ 44 billion.
Musk recently announced that he was suspending his acquisition of Twitter, following reports that it was being transferred.
Elon Musk wrote on his official Twitter page that "the deal to buy Twitter has been put on hold." He also noted that the number of spam and fake accounts on Twitter is less than 5 percent.
In a letter to Twitter, Musk's lawyer said, "Elon feels that Twitter is refusing to act as stated in the merger agreement.
The letter also states that Elon could suspend the $ 44 billion deal permanently if he did not provide details of the fake accounts on Twitter.
Musk's announcement that he will terminate the deal to buy Twitter if he does not provide details of the fake accounts on Twitter has been widely reported around the world.
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