Elon Musk said he’s terminating his $44 billion agreement to acquire Twitter Inc. and take it private, saying the company has made “misleading representations” over the number of spam bots on the service.
Twitter hasn’t “complied with its contractual obligations” to provide information about how to assess how prevalent the bots are on the social medial service,” Musk said Friday in a letter to Twitter as part of a regulatory filing.
Musk has been complaining for months that Twitter under-reports the number of bots that are included in its user base. The company has denied that claim, saying bots are less than 5% of the total users, with executives repeating as recently as Thursday in a press briefing that their estimates are accurate.
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