/Elon Musk Threatens to Abandon Twitter Deal
Elon Musk via Wikimedia Commons

Elon Musk Threatens to Abandon Twitter Deal

Elon Musk accused Twitter of “resisting and thwarting” his right to information about fake accounts on the platform, calling it a “clear material breach” of the terms of their merger agreement in a letter to the company on Monday.

“Mr. Musk reserves all rights resulting therefrom, including his right not to consummate the transaction and his right to terminate the merger agreement,” the letter, signed by Skadden attorney Mike Ringler, says.

Twitter shares were down 5% Monday morning.

Musk waived due diligence when he moved to buy the company, seemingly to hasten the acceptance of his bid.

Keep reading at CNBC.