At the end of April, it was announced that Musk, the richest man in the world, would buy Twitter for 44 billion dollars (42 billion euros). The company’s board agreed after some hesitation.
The feasibility of the deal has been questioned in recent days. Musk is investing some of his Tesla shares for the buyout. The price of these shares fell by about 30% in a month.
Now Musk says he wants more clarity about the number of spam accounts on the social network. He described cleaning up spambots as one of his top priorities.
Earlier this month, Twitter said less than 5% of all accounts belong to non-genuine users. The company said the actual number could be higher, but it’s hard to verify. Twitter has described fake accounts and spam as one of the biggest threats to the company’s revenue model.
Low price
At the opening of the stock exchange, the price fell almost 10%. The share price is therefore around $40. That’s about a quarter less than what Musk would initially pay per share. The share price is now much lower, suggesting that investors were not at all convinced that the deal was going to happen.
Tesla’s stock price is up about 6% today. Musk wants to use Tesla stock as collateral to fund his Twitter buyout.
It has been agreed that Musk will transfer about €1 billion to Twitter under certain conditions if he abandons the takeover again.
Last Tuesday, Musk gave an interview in which he talked about the acquisition project. Former President Donald Trump said he could lift the Twitter ban. According to him, a Twitter ban should only be possible for spambots, not for individuals.
Source: NOS
Smith Charles is a talented entertainment journalist and author at The Nation View. He has a passion for all things entertainment and writes about the latest movies, TV shows, music, and celebrity news. He’s known for his in-depth interviews with actors, musicians, and other industry figures, and his ability to provide unique perspectives on the entertainment industry.
