“If Twitter simply provides their method of sampling 100 accounts and how they’re confirmed to be real, the deal should proceed on original terms,” Elon Musk tweeted on Saturday.

“However, if it turns out that their SEC filings are materially false, then it should not,” he added.

Good summary of the problem.

If Twitter simply provides their method of sampling 100 accounts and how they’re confirmed to be real, the deal should proceed on original terms.

However, if it turns out that their SEC filings are materially false, then it should not.

— Elon Musk (@elonmusk) August 6, 2022

In April, the Tesla CEO Elon Musk offered to purchase American social media company Twitter, Inc., for $43 billion, after previously acquiring 9.1 percent of the company's stock for $2.64 billion, becoming its largest shareholder.

Twitter had then invited Musk to join their board of directors, which Musk at first accepted before subsequently declining. Twitter announced a "poison pill" strategy the next day.

On April 25, Twitter's board of directors unanimously accepted Musk's buyout offer of $44 billion, with the company set to be taken private.

Musk announced his intention to terminate the agreement on July 8, asserting that Twitter had breached their agreement by refusing to crack down on spambot accounts.

The company filed a lawsuit against Musk in the Delaware Court of Chancery on July 12, and the trial is set to begin on October 17.

Reception to the proposed buyout has been mixed. It received praise for Musk's planned reforms and vision for the company, while also drawing criticism over fears of a potential rise in disinformation and harassment on the platform. (ILKHA)