Twitter refuses to heed Elon Musk’s reservations as he moves forward with his $44 billion deal / Digital Information World
The chaos surrounding the Twitter takeover continues as billionaire Elon Musk tries to put the brakes on by accusing the company of understating the number of fake accounts mentioned in its public listings.
But if you thought it would affect Twitter, well, think again. We’ve already seen the Twitter CEO provide his rationale and clarification on the question which Elon Musk didn’t acknowledge and instead chose to answer with a poo emoji.
Now, however, Twitter says it’s moving forward with its initial $44 billion plans for the world’s richest man whether it likes it or not.
Recently, the company mentioned in a public statement that it was beyond its commitment to complete the designated transaction with respect to the price mentioned at the start of the transaction. This also includes all terms of service stated from the beginning.
On top of that, we saw Twitter’s board put their statements in bold terms during an interview with The New York Times. This is where they strongly commented on the conclusion of the agreement while also enforcing the agreement reached for the merger.
These statements are not considered a major shock. After all, when a billionaire like Elon Musk tries to defame the company and accuses it of underestimating the truth, you’re going to have to fight back one way or another.
But again, Elon Musk continues to be unconvinced, calling for evidence that proves how the under 5% figure for fake profiles came about or was calculated.
Musk’s main concern is the underreporting of spam and bot accounts and how he thinks he has been lied to.
Yesterday, CEO Agrawal denied Musk’s request for public evidence and that’s when Musk tweeted that the deal simply couldn’t be finalized unless his request was met.
At the same time, rumors are rife about Elon Musk’s potential recoil, as he feels the listed price is simply too high and is therefore doing everything in his power to waive it.
But remember, if he really intends to withdraw, he is going to suffer significant losses or be penalized as stated in the agreement or contract he signed with Twitter.
Another CNBC report shed some light on how things could even turn around and go in Elon Musk’s favor. And that is if he makes any allegations relating to the company’s involvement in fraud and the failure to report the correct spam number in the app.
Twitter could respond with a mega lawsuit that takes the billionaire to court in case the deal doesn’t go through. Additionally, we could see Tesla’s CEO being dragged into court with demands that he buy the social network at the price originally listed. Moreover, they would then use their original contract and its stated terms as evidence.
Obviously, this is a stick situation and no one wants to get into it. In the meantime, we see Elon Musk pursue his allegations while asking regulators such as the United States Securities & Exchange Commission to step in and investigate.
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