Twitter Takeover Deal Thrown Into Doubt as Elon Musk Plans Renegotiation

Twitter Takeover Deal Thrown Into Doubt as Elon Musk Plans Renegotiation

  • Tesla CEO, Elon Musk has said that he may try to negotiate a lower price for the Twitter takeover deal.
  • The news comes after concerns that Twitter bots volume could be significantly more than 5% of all accounts.
  • The social media giant’s stocks fell on Wednesday by 8% to close at $37.39.

Elon Musk has cast further doubt over his Twitter acquisition after stating that he may look to renegotiate the takeover for a lower price. The Tesla CEO appeared at a technology conference in Miami, where he revealed his plans.

Twitter takeover deal

Mr. Musk’s comments were made in response to a question over whether he would renegotiate the $44 billion Twitter takeover deal. The billionaire had earlier put the deal on hold over unclear figures about the company’s spam account. He claims that Twitter’s stated less than 5% bot estimate was difficult to believe.

Twitter stock is suffering as the future of the deal has been thrown in doubt. The social media company’s shares fell 8% on Monday to close at $37.39. This is significantly lower than the $54.20 a share that Musk agreed to pay for the company last month.

Twitter takeover deal

On Friday, the Tesla boss said that he wants to get more details about the volume of spam and fake accounts before going on. He later followed up by indicating that he was still “committed” to completing the deal.

Meanwhile, Parag Agrawal, Twitter’s CEO, posted a lengthy thread on Monday, explaining details about the company’s calculation of bots. He revealed that the company had also shared an overview of the estimation with Musk. The billionaire responded to the thread with a poop emoji.

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