Close X
Friday, January 10, 2025
ADVT 
Tech

Musk officially terminates $44 bn Twitter deal: Report

Darpan News Desk, 08 Jul, 2022 09:27 PM
  • Musk officially terminates $44 bn Twitter deal: Report
San Francisco, July 8 (IANS) Tech billionaire Elon Musk has officially pulled out of his $44 billion agreement to purchase microblogging site Twitter.

In a filing on Friday afternoon with the US Securities and Exchange Commission (SEC), Musk's team claimed he had terminated the deal because Twitter was in "material breach" of their agreement and had made "false and misleading" statements during negotiations.

"For nearly two months, Musk has sought the data and information necessary to make an independent assessment of the prevalence of fake or spam accounts on Twitter's platform'," Musk's legal team wrote.

"Twitter has failed or refused to provide this information," they added.

Twitter board chairman Bret Taylor wrote that the company will "pursue legal action to enforce the merger agreement" and feels "confident we will prevail" in court.

Musk has been setting the stage to abandon the deal just weeks after he signed the agreement, claiming that Twitter released misleading stats about the prevalence of spam bots on its platform.

It is entirely unclear, however, that Musk can legally abandon his agreement simply because he isn't happy about the presence of spam on Twitter, something he could have investigated before signing the deal.

Twitter has gone to great lengths to show compliance with Musk's requests.

In early June, the company opened up "firehose" access to its service so that Musk could receive and analyze every tweet as it was posted. The company has also continuously tried to reassure the public that it has spam and bots under control.

On Thursday, it told the press that it was blocking over a million spam accounts per day, and in May, its CEO wrote a long thread about how Twitter determines how many of its users are bots.

 

MORE Tech ARTICLES

'No direct evidence of link between mobile radiation and cancer'

'No direct evidence of link between mobile radiation and cancer'
The preponderance of evidence shows that there is no link between cell phone radiation and cancer, said oncologist and renowned author Siddhartha Mukherjee.

'No direct evidence of link between mobile radiation and cancer'

Watch out for muggers while wearing Google Glass

Watch out for muggers while wearing Google Glass
The early birds who bought $1,500 (Rs.90,000) wearable eyewear Google Glass that was sold for one day in the US last week are facing street violence from muggers and privacy campaigners.

Watch out for muggers while wearing Google Glass

Feeling hot? Make the clouds rain with laser

Feeling hot? Make the clouds rain with laser
Days are not far when we would be able to summon a shower from the sky or trigger lightning at will as researchers have now extended high-intensity laser with hope of stimulating showers.

Feeling hot? Make the clouds rain with laser

Talk to your smart phone to unlock car!

Talk to your smart phone to unlock car!
Four students from University of Pennsylvania have developed a technology called GoogolPlex that allows users to get more from Apple's iPhone by simply talking to it.

Talk to your smart phone to unlock car!

Tiny robots to help you perform daily chores

Tiny robots to help you perform daily chores
Soon, tiny robots would be performing tasks such as measuring pollution, extinguishing fire and delivering medicines into the body in a non-invasive way.

Tiny robots to help you perform daily chores

Now, share your exact location with Facebook friends

Now, share your exact location with Facebook friends
The company has launched a new feature which can let you see which of your friends are nearby.

Now, share your exact location with Facebook friends