Elon Musk killed the Twitter deal for good with one big revelation

Elon Musk’s bid to buy Twitter is over.

After months of speculation, there is no turning back.

Musk killed the Twitter deal for good with one big revelation.

Elon Musk’s attempt to buy Twitter and take the company private is finished.

He offered $44 billion for the company, but backed out after he could not confirm how many fake accounts populate the social media platform.

Twitter claims only 5% of the accounts are fake, but a whistleblower named Peiter Zatko said the number could be as high as 33%, which would severely lower Twitter’s value.

The Daily Wire reported that “Musk filed an amendment with the Securities and Exchange Commission in order to cement his termination of his heretofore proposed purchase of Twitter. Musk made the filing to buttress his case for dissolving the merger, arguing that facts had come to light since his July 8 letter to Twitter terminating their merger agreement that would strengthen the termination in case the original letter were to be found invalid, as Twitter has contested the validity of the July termination notice.”

According to Musk’s attorneys, Zatko’s claims indicate that Twitter withheld critical information that invalidates the acquisition agreement.

Musk’s lawyers wrote in a court filing, “The Zatko Complaint alleges far-reaching misconduct at Twitter—all of which was disclosed to Twitter’s directors and senior executives, including Parag Agrawal—that is likely to have severe consequences for Twitter’s business.”

Some have argued that Musk only feigned interest in buying Twitter in order to justify selling billions of dollars in Tesla stock without triggering a major sell-off due to panic.

Others have argued that Musk is attempting to drive down the price of Twitter and get it at a bargain.

Regardless, the deal appears to be done in Musk’s eyes.

Musk’s attorneys cited allegations made by Zatko, writing, “Twitter was in material noncompliance with both its obligations under a 2011 FTC consent decree and its general obligations under data privacy, unfair trade practice, and consumer protection laws and regulations … Twitter is uniquely vulnerable to systemic disruption resulting from data center failures or malicious actors … Twitter’s platform is built in significant part on the misappropriation and infringement of third party intellectual property, and Twitter acquiesced to demands made by the Indian government that its agents be hired by Twitter and given access to Twitter.”

Musk is out of the Twitter sweepstakes by his account because as his attorneys state the allegations show Twitter has breached provisions of the merger agreement.

Of course, Musk made the filing to support his case for dissolving the merger.

Nevertheless, Twitter could still try to force his hand in court but unless that happens and he decides to actually take control, the platform seems destined to remain in the clutches of the establishment.

Sadly, new evidence is coming to light showing how deep the collusion between Big Tech and government officials has gone on the social media platform and it’s only likely to grow worse in the coming months.

Stay tuned to Unmuzzled News for any updates to this ongoing story.

Total
29
Shares
Leave a Reply

Your email address will not be published. Required fields are marked *

Previous Article

Study suggests Michael Jordan may never have amassed shoe empire today – and you won’t believe why

Next Article

Kathy Hochul's foot soldiers just sent out a mind-blowing demand to get conservatives

Related Posts