Saturday, January 28, 2023
HomeBusinessElon Musk no longer wants to buy Twitter? The deal is...

Elon Musk no longer wants to buy Twitter? The deal is under serious threat

Elon Musk’s deal to buy Twitter is under serious threat, three people familiar with the matter told the Washington Post. Musk’s team concluded that Twitter data on spam accounts was unverifiable.

Musk’s team has pulled out of some discussions about financing the $44 billion deal, one source said, including with the party named as a likely backer.

Investor talks have dwindled in recent weeks as Musk’s camp has raised doubts about recent data on Twitter’s user base. Musk’s team’s skepticism about spam data suggests they don’t have enough information to assess Twitter’s prospects as a business, people say.

Now that Musk’s team has concluded it can’t verify Twitter data on spam accounts, one source said it is expected to take potentially drastic action. This person said that there is likely to be a change of direction on the part of Musk’s team soon.

Download Link

Spam accounts aren’t the only reason Musk might try to evade the deal. Twitter’s share price has plummeted since its takeover bid in April, giving the impression that it is overpaying.

But the terms of the deal, Musk will not be easy to refuse. He can only pull out of the purchase if something serious happens to Twitter’s business, and legal experts doubt that a bot problem would fit that definition. Twitter, which initially fought Musk’s takeover bid, will be a weaker company if the deal falls apart. Twitter said it intends to finalize the deal. Even if Musk refuses, he will have to pay a $1 billion termination fine.

MOBILE

The country’s cheapest 5G phone with 108MP camera is available for just Rs 1349! Only through this offer

The country’s cheapest 5G phone with 108MP camera is available for...

If you are thinking of buying a 5G phone, then we have brought you the best option available in the market. Yes, Infinix Note...
- Advertisment -

Auto

Two Wheeler

Digit News

Jobs