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Musk accuses Twitter of concealing data, may withdraw bid

ELON Musk threatened to pull out of his bid to buy Twitter on Monday, accusing the company of failing to give data on false accounts, in the latest twist in the Tesla billionaire’s pursuit of the social media platform.

According to a statement filed with securities authorities, Twitter has committed “a clear material breach” of its “obligations under the merger agreement,” and “Mr. Musk reserves… his right not to finalize the deal.”

Musk’s previous statements highlighting phony accounts as a danger to his proposed $44 billion takeover of Twitter have gotten louder with the filing.

According to Musk, the true number of bots might be four times larger than Twitter’s estimations.

Bots can be used to propagate misleading information or provide a mistaken sense of how broadly material is consumed and shared on social media.

Twitter CEO Parag Agrawal said that fewer than 5% of accounts active on any given day are bots, however that analysis cannot be reproduced outside of Twitter due to the necessity to keep user data private.

Musk has already dismissed Twitter’s comments, and he restated that position in his filing on Monday.

To execute the deal, Musk “must have a complete and accurate understanding of the very core of Twitter’s business model — its active user base,” said the filing.

“Mr. Musk believes Twitter is transparently refusing to comply with its obligations under the merger agreement, which is causing further suspicion that the company is withholding the requested data due to concern for what Mr. Musk’s own analysis of that data will uncover.”

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