Twitter shares lost ground on Thursday, July 7, following the publication of the article. washington post: that Elon Musk’s takeover of the social network is in serious jeopardy because of the multibillionaire’s concerns about fake accounts.
The management team of Tesla and SpaceX has reportedly called off talks with one of the investors expected to contribute to its $44 billion acquisition of Twitter. “Now that Musk’s team has come to the conclusion that the Twitter numbers on the fake accounts are unverifiable, they need to take drastic action,” one of the sources said. close to the file, details the American daily. On Wall Street, the California-based company’s stock lost more than 4% in after-hours trading in electronic trading, following a modest session gain (+1.52%).
Elon Musk has repeatedly questioned Twitter’s data on fake accounts and its measures to limit their spread. In early June, the group’s board of directors agreed to make available to Elon Musk the mountains of data needed to answer his questions on the subject, after the businessman threatened to withdraw his offer in an official document. So the world’s richest man and his team set out to analyze this raw data to see if the percentage of fake accounts actually represents less than 5% of Twitter’s daily active users, as the network claims.
“At this point, with the offer at $54.20 per share and the stock around $39, the market is clearly skeptical about the chances of a deal going through at the expected price.”Wedbush’s Dan Ives notes in a post. “We believe the probability of a deal is currently around 60% at a revised price of $42-$45 per share.”he added.
If Elon Musk ever reneges on his commitment to buy Twitter, he faces significant legal action. Both parties have committed to pay up to $1 billion in severance payments under certain circumstances.
Source: Le Figaro
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.