Musk put $44 billion Twitter deal on hold over false account data
Elon Musk said on Friday that his $44 billion cash purchase for Twitter Inc (NYSE: TWTR) is “temporarily on pause” while he waits for evidence on the number of false accounts on the social media platform.
Twitter shares were down 9.6% to $40.71 in premarket trading on Friday, a steep discount to the $54.20 per share acquisition price.
Shares regained some ground after Tesla CEO Elon Musk tweeted that he remains committed to the Twitter deal.
Musk said his team will conduct a “random sample of 100 followers” of the microblogging site to find out how many are bots or duplicates although Twitter considered disparaging comments, but encouraged by Musk’s comments.
If Elon Musk acquires Twitter, he has stated that he will “defeat the spam bots or die trying.” Former US President Donald Trump has slammed the acquisition price as “crazy” and accused Musk of being a “monetarist.”
This report’s information was first seen on reuters.com; to read more, click this link.