Elon Musk's Deal To Buy Twitter Is In Danger Again: What Happens Next?
Twitter-Elon Musk deal seems to have hit another roadblock. It appears that Musk's $44 billion deal to buy Twitter is in danger, the Washington Post reported first on Thursday.?
While this may be a surprise, Musk had hinted at walking away from the deal multiple times. He sought more data from Twitter on its spam bots or fake accounts on the platform.
Musk may have been unable to ascertain how many Twitter users are real, even though Twitter claims that it has given him access to internal data for this purpose. The Post cited an anonymous source saying that Elon Musk's team is preparing for a "change in direction."
Twitter's shares take a hit
After the report went viral, Twitter's shares slid on Thursday by about 4% in after-market trades. At the Qatar Economic Forum last month, Musk said that his purchase of Twitter was being held up by "very significant" questions about the number of fake users on Twitter.
Also read:?Twitter Sues Indian Govt After Complying With Final Notice On Content Removal
"So we are still awaiting resolution on that matter and that is a very significant matter," Musk said during the event, virtually.
Twitter has claimed that less than 5% of its total accounts are bogus, but Musk has stated on numerous occasions that he believes this number to be much higher.?
What happens now??
The deal between Elon Musk and Twitter could be renegotiated or it could completely fall off. Musk could end up paying a fraction of the $44 billion if the deal is reworked now, AFP reported.
This could also be a way for Elon Musk to kill the deal. May be he realised that it was a bad idea all along? Only time will tell. A break up fee of $1 billion is what Musk will have to pay if he walked away. But the contract's clause says that Twitter could force him to pay the $44 billion if he decides to pull out now.
This whole ordeal may have something to do with Tesla's stocks suffering over the last few months.?
Also read:?Elon Musk Wants Twitter To Become Less 'Boring' By Imitating TikTok And WeChat
What do you think - will Musk ever end up buying Twitter? Let us know in the comments below.?For?more in the world of?technology?and?science, keep reading?Indiatimes.com.
References
A. (2022c, July 8). Elon Musk deal to buy Twitter in danger: Report. The Times of India.?
Kirshner, A. (2022, July 8). It Couldn¡¯t Be More Obvious What Elon Musk Is Doing. Slate Magazine.?
