Elon Musk’s deal to purchase Twitter is reportedly in serious trouble.
Sources knowledgeable about negotiations told the Washington Post on Thursday that Musk’s people are no longer discussing funding for the sale.
In the last few weeks, Musk and his team have criticized Twitter over the amount of Twitter accounts that are actually “spam bots,” with Musk threatening to bolt if it turns out that over 5 percent of the platforms accounts are spam.
Musk has also accused Twitter of downplaying the number of spam accounts, with Twitter telling Musk they would let him access their raw data to examine the issue.
On Thursday, Twitter said in a call with executives that it deletes 1 million spam accounts every day, and that the total number is well under 5 percent of its users, according to reports.
But this may not be enough to convince Musk of the platform’s worth.
Musk is rumored to be considering a major move after deciding that Twitter’s raw numbers of spam accounts are not sufficient, according to the Washington Post.
Twitter said in a statement that it has been sharing all information with Musk "to consummate the transaction in accordance with the terms of the merger agreement,” according to Fox Business.
"We believe this agreement is in the best interest of all shareholders," Twitter said. "We intend to close the transaction and enforce the merger agreement at the agreed price and terms."
If Musk pulls out of the transaction, there would likely be huge legal consequences.