Elon Musk’s contract to buy Twitter seems to be on the verge of collapse.

Tesla and SpaceX’s boss lawyer said in a letter that the platform “does not comply with contractual obligations” surrounding the transaction, that is, “independently assesses the prevalence of counterfeit or spam accounts on Twitter’s platform. He said he provided enough information.

The timeline for how a transaction was developed is as follows:

April 4-Mass acquired more than 9% of Twitter’s stake and became the company’s largest shareholder at the time, according to a filing with the US Securities and Exchange Commission (SEC).

April 5 – Twitter has announced that Musk will join the company’s board of directors.

Elon Musk announced in April that he intends to purchase Twitter altogether (Brian Lawless / PA).

April 11 – Mr. Musk overturned his decision and Twitter confirmed that millionaires would not join the board.

April 14 – Mr. Musk submits a proposal to purchase the company completely and keep it private. He offers $ 44 billion, or $ 54.20 per share.

April 15 – In response, Twitter will implement a policy called the “Poison Pill” policy. This allows existing shareholders to buy shares at a discounted price, diluting Mr. Musk’s holdings and preventing them from being sold. However, Mr. Musk and Twitter have begun negotiations on the deal.

April 25 – The deal was agreed at the price initially offered by Mr. Musk – $ 44 billion.

May 10 – Mr. Musk publicly said he would revoke Twitter’s current permanent ban on former President Donald Trump’s account.

Tesla’s boss talked about overturning Donald Trump’s Twitter ban (Financial Times / Pennsylvania)

May 14 – Musk begins asking questions about the number of bot accounts on the platform, and transactions are “temporarily put on hold” while trying to find out more about spam and fake account levels on Twitter. It states that it is.

May 16 – Mr. Musk continues to sparring publicly with Twitter executives, sending a Pile of Poo emblem in response to a tweet from Twitter CEO Parag Agrawal.

Musk also used the public later that day to suggest that trading on the platform could be done at a lower price, and Twitter estimates that it’s a bot at most 20%.

May 17 – Mr. Musk states that the transaction “cannot move forward” until it has “evidence” that the bot is only 5% of spam accounts on the platform. Many experts suggest that he is trying to force a renegotiation of the deal at a lower price.

On the same day, Twitter said it was still planning to “close the deal and fulfill the merger agreement” with Mr. Musk.

Concerns have been expressed about bots on the platform (Andrew Matthews / PA)

June 6 – Musk states in a letter from a lawyer to Twitter’s legal team that he has “the right to terminate the merger agreement” for the company’s lack of cooperation with spam account data.

June 8 – Twitter agrees to allow Mr. Musk access to the data “fire hose,” which contains data about all public tweets, to help with the investigation.

July 7-The Washington Post reports that Mr. Musk’s Twitter purchase arrangement is “at risk” after his team concludes that the numbers for Twitter’s spam accounts cannot be verified. There is.

July 8-The transaction is on the verge of collapse after Mr. Musk sent a letter to the SEC to close the deal.

In the letter, he said that Twitter is sufficient to “not comply with contractual obligations” surrounding the transaction, that is, “independently assess the prevalence of fake and spam accounts on Twitter’s platform.” It states that it is providing information.

In response, Twitter’s board chairman, Bret Taylor, has “promised” to close the transaction at a price and terms agreed with Mr. Musk, and has taken legal action to enforce the merger agreement. He said he was planning to take it.

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