What you need to know
- Elon Musk has filed with the SEC to terminate his agreement to buy Twitter.
- Musk claims that the information provided by Twitter on several fronts has been inadequate.
- Twitter's Chairman, Bret Taylor, has said the deal will go through.
It's been a wild few months for Twitter, and just today, an SEC filing has signaled Elon Musk's wishes to terminate his agreement to buy Twitter for over 40 billion dollars.
The SEC filing details a few grievances that Elon Musk and his buying partners have with the information Twitter as providing them.
The biggest concern seems to be the prevalence of Spam/Bot accounts, something Elon Musk has been very vocal about since making his intentions to buy Twitter known.
The filing says that Musk has repeatedly asked for information on these accounts, and Twitter seemingly hasn't provided satisfactory answers.
Data concerning spam and bot accounts isn't the only information Musk has been seeking; the SEC filing also mentions for the past two months, Musk has been seeking "materials related to Twitter's financial condition."
This is another dramatic twist in the Twitter saga, as just earlier today, it was reported that Musk could take drastic measures. Now, just because there's been a filing doesn't mean the deal is entirely kaput. However, it certainly looks unlikely that Elon will be buying Twitter after this revelation.
In a shocking twist, Twitter's Chairman, Bret Taylor, took to the social media platform to say the deal would happen and has stated they will take legal action.
The Tweet reads:
We will have to see how everything shakes out. We will have more on this story as it develops.
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Luke Filipowicz has been a writer at iMore, covering Apple for nearly a decade now. He writes a lot about Apple Watch and iPad but covers the iPhone and Mac as well. He often describes himself as an "Apple user on a budget" and firmly believes that great technology can be affordable if you know where to look. Luke also heads up the iMore Show — a weekly podcast focusing on Apple news, rumors, and products but likes to have some fun along the way.
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