Musk says he may drop Twitter deal if data on fake accounts not provided

Elon Musk on Monday warned that he might walk away from his $44 billion offer to acquire Twitter Inc if the social media network failed to provide data on spam and fake accounts.

In a letter to Twitter, the billionaire reiterated his request for details on bot accounts and said he reserved all rights to terminate the merger as the company was in a “clear material breach” of its obligations by not providing him with the information.

Twitter shares were down 5.5% at $38.13 and were trading at a steep discount to Musk’s offer of $54.20 per share, suggesting that investors did not expect the deal would close at the agreed price.