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Elon Musk says Twitter takeover is on maintain however he is nonetheless dedicated to the acquisition

Keep in mind when Elon Musk introduced he was shopping for Twitter and that bombshell then reverberated throughout the social community for days on finish? Properly, at this time is one other fascinating day on this saga, as Musk revealed that the deal is “quickly on maintain”, pending “particulars supporting calculation that spam/faux accounts do certainly characterize lower than 5% of customers”.

If you happen to’re confused as to what he is speaking about, a Reuters report got here out earlier this month saying that Twitter itself estimates spam and pretend accounts to comprise lower than 5% of customers. Now, nevertheless, Musk appears to be unconvinced that it is solely 5% of customers.

Clearly, if a a lot larger share of Twitter customers are spam bots and fakes, then the worth of the corporate to a purchaser would lower, during which case we assume Musk would provide lower than the $44 billion he is already agreed to paying. It is unclear what exactly is occurring, however the information has unsurprisingly resulted in a hunch in Twitter’s share worth.

For what it is price, Musk says he is nonetheless dedicated to seeing the acquisition undergo, so this most likely quantities to a really late-stage negotiating tactic. We’ll let you understand what unfolds.

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