Tesla founder says his $44 billion purchase of the social media giant is being held up by questions over spam and fake accounts. twitter elonmusk alabamanewsnetwork
Still committed to acquisitionIt wasn't clear whether the issue could scuttle the deal. Shares of both Twitter and Tesla swung sharply in opposite directions, with Twitter's stock tumbling 17% to $37.20 before trading opened in the U.S, and Tesla, which Musk had proposed using to help fund the Twitter deal, jumping 5%. Twitter's stock price is now well below the $54.20 per share that Musk agreed to pay for the company.
Calling Musk's tweet"bizarre," Wedbush Securities analyst Dan Ives said,"The implications of this tweet will send this Twitter circus show into a Friday the 13th horror show as now the Street will view this deal as 1) likely falling apart, 2) Musk negotiating for a lower deal price, or 3) Musk simply walking away from the deal with a $1 billion breakup fee." for its first-quarter results.
Twitter added that it was possible that"the actual number of false or spam accounts could be higher than we have estimated."
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