Elon Musk said he won’t proceed with his $44 billion takeover of Twitter Inc. unless it can prove bots make up fewer than 5% of its users, casting yet more uncertainty over the deal
Elon Musk Says Twitter Must Prove Bot Claims for $44B Deal to Proceed
The billionaire tweeted “this deal cannot move forward” unless Twitter provides proof of its claims, reiterating his own view that the ratio is far higher. Twitter’s shares fell another 3.2% in pre-market trading in New York, after sliding more than 8% the previous day. The spread between Musk’s offer price of $54.20 and its last trading price is currently about 40%, suggesting investors think there is little chance the deal will get done without a discount—if at all.
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