Amid the $44 billion Twitter deal deadlock, Tesla CEO Elon Musk on Saturday challenged Twitter Chief Executive Officer (CEO), Parag Agrawal, to a public debate about the percentage of bots on the social media platform.
"Let him prove to the public that Twitter has <5% fake or spam daily users!," Musk said in a tweet.
And that¡¯s not all. He also started a poll asking users whether less than 5% of Twitter daily users are fake/spam.
Last week, Twitter dismissed a claim by Musk that he was hoodwinked into signing a $44 billion agreement to buy the company, as per Reuters.?Elon Musk had already filed a countersuit against Twitter on July 29, escalating his legal fight against the company over his bid to walk away from the purchase agreement.
Earlier on Saturday (August 6th), the world¡¯s richest person Elon Musk reportedly said that if Twitter could provide its method of sampling 100 accounts and how it confirmed that the accounts are real, his deal to buy the company should proceed on its original terms.
About two weeks ago, Twitter revealed its quarterly financial results, wherein it was mentioned that Twitter spent approximately $33 million in costs related to the pending acquisition from Musk.
In its press release, Twitter?mentioned in July last week, ¡°As announced on April 25, 2022, we entered into a merger agreement, pursuant to which Twitter agreed to be acquired by an entity wholly owned by Elon Musk, for $54.20 per share in cash. Upon completion of the transaction, Twitter will become a privately held company."
"On July 8, 2022, representatives of Mr. Musk delivered a notice purporting to terminate the merger agreement. Twitter believes that Mr. Musk¡¯s purported termination is invalid and wrongful, and the merger agreement remains in effect," the press release went on.?
"On July 12, 2022, Twitter commenced litigation against Mr. Musk and certain of his affiliates to cause them to specifically perform their obligations under the merger agreement and consummate the closing in accordance with the terms of the merger agreement.¡°
The report also mentioned that on July 19, 2022, Twitter¡¯s request for an expedited trial was granted, and the trial was being scheduled for October 2022.?
"Adoption of the merger agreement by our stockholders is the only remaining approval or regulatory condition to completing the merger under the merger agreement. The exact timing of completion of the merger, if at all, cannot be predicted because the merger is subject to ongoing litigation, adoption of the merger agreement by our stockholders and the satisfaction of the remaining closing conditions."
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