NEW YORK, NEW YORK – May 2: Elon Musk attends the 2022 Met Gala “In America: An Anthology of Fashion” at the Metropolitan Museum of Art on May 2, 2022 in New York City. (Image: According to Wargo/WireImage)
According to Wargo | Wireimage | beautiful pictures
Shares of Twitter down about 4% after the market close on Thursday following a report from washington articles That said, billionaire Elon Musk’s deal to buy the company is in jeopardy.
The agreement is was in uncertain territoryAccording to Musk, after he requested more information about the spam account rate on the platform. But the Post, citing an unnamed source, said Musk’s team had stopped engaging in some funding discussions for the $44 billion deal. Musk’s team has determined that they are unable to verify Twitter’s spam account metrics, and they are now preparing to make a “change in direction” soon, the Post reported, citing a source.
Musk can’t just pay the $1 billion breakup fee and leave. Twitter could try to keep Musk on original terms by claiming his reasons for pulling out were unrelated to its core business.
Twitter held a virtual meeting with reporters earlier on Thursday to explain how to determine which accounts on its platform are bots or spam accounts. The company says trained employees use internal data and signals to figure out that less than 5% of daily monetized users (mDAU) per quarter are spam accounts.
A Twitter spokesperson pointed to an earlier statement that the company “has been and will continue to cooperate in information sharing with Mr. Musk to complete the transaction under the terms of the merger agreement. We believe that this agreement is in the best interest of all shareholders. . We intend to close the transaction and execute the merger agreement at the agreed price and terms.”
Musk did not immediately respond to a request for comment on the report.
WATCH: Musk tells Twitter staff he wants at least a billion daily users
