MUSK THREATENS TO WALK AWAY FROM TWITTER DEAL

Elon Musk is threatening to walk away from his $44 billion bid to buy Twitter, accusing the company of refusing to give him information about its spam bot and fake accounts.

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Lawyers for the Tesla and SpaceX CEO made the threat in a letter to Twitter, and Twitter disclosed it in a filing with the U.S. Securities and Exchange Commission.

The letter says Musk has repeatedly asked for the information since May 9, about a month after his offer to buy the company, so he could evaluate how many of the company’s 229 million accounts are fake.

Twitter CEO Parag Agrawal has said that Twitter has consistently estimated that fewer than 5% of its accounts are fake. But Musk has disputed that, contending in a May tweet that 20% or more are bogus.

Shares of Twitter Inc. slid just under 3%, likely incensing Twitter shareholders who filed a suit against Musk late last month for deflating the price of the stock. Shares of Twitter are down 23% in the last month.

Twitter said in a statement that it “has and will continue to cooperatively share information with Mr. Musk to consummate the transaction in accordance with the terms of the merger agreement.”

“We intend to close the transaction and enforce the merger agreement at the agreed price and terms,” it added.