Elon Musk is attempting to terminate his $44 billion bid for Twitter, claiming repeated violations of the agreement.
The statement is the latest twist in a long-running affair that began in April when the world’s richest person decided to purchase Twitter.
Mr Musk stated that he withdrew because Twitter failed to offer sufficient information on the quantity of spam and false accounts.
Twitter has stated that it intends to take legal action to enforce the agreement.
“The Twitter Board is committed to closing the transaction on the price and terms agreed upon with Mr. Musk,” Twitter chairman Bret Taylor wrote in a tweet, setting up a potentially long and protracted legal battle between the two sides.
The original merger deal calls for a $1 billion break-up fee.
Mr Musk said in May that the acquisition was “temporarily on hold” while he awaited data on the number of fake and spam accounts on Twitter.
The billionaire businessman had requested evidence to back up the company’s claim that spam and bot accounts account for less than 5% of its overall users.
Mr Musk’s lawyer stated in a letter filed with the US Securities and Exchange Commission that Twitter had neglected or refused to furnish this information.