The U.S. Securities and Exchange Commission asked Tesla CEO Elon Musk for more details related to his Twitter deal, regarding the $44 billion purchase that he recently attempted to pull out of, according to a new regulatory filing issued Thursday.
On May 13, Musk wrote that the Twitter deal was “temporarily on hold” after the billionaire said he requested information on how Twitter determines the number of automated or spam accounts are on its platform. Days later, he wrote that the deal “cannot move forward” unless that information is provided to him.
“The term ‘cannot’ suggests that Mr. Musk and his affiliates are exercising a legal right under the terms of the merger agreement to suspend completion of the acquisition of Twitter or otherwise do not intend to complete the acquisition,” the SEC wrote to Musk, according to the federal agency’s filing Thursday. “Yet, we note that the Schedule 13D has not been amended to reflect the apparent material change that has occurred to the facts previously reported under Item 4 of Schedule 13D.”…