Wednesday, September 28, 2022

Elon Musk’s $44 billion deal with Twitter ‘in danger’ over fake accounts data: report

Elon Musk’s $44 billion Twitter acquisition deal is in jeopardy and his team has also closed some discussions with investors, The Washington Post reported. Musk’s team believes it will not be able to verify Twitter’s data about the number of spam bots on its platform. Revelations made by media outlets further bleak Musk’s offer to buy Twitter and suggest Thatcher may not follow through on the deal.

Citing at least three unnamed sources, The Washington Post reported Thursday that the deal is “in grave danger”. Musk’s team thinks the platform won’t be able to verify data from spam accounts on Twitter, which was one of the prerequisites before the Tesla CEO went ahead with the acquisition.

Reports of the Twitter-Musk deal being in a pickle are the latest update on the months-old saga between the two. The founder of SpaceX caused a global outcry after Twitter was announced to buy and proposed a deal on the platform itself. CNET reported, that Adrian Zamora, a spokesman for Twitter, pointed to a statement shared by the company in June that said “Twitter worked with Mr. Musk to complete the transaction in accordance with the terms of the merger.” We have continued to share and will continue to share. Agreement. We believe this agreement is in the best interest of all shareholders.”

Elon Musk on Spam Accounts on Twitter

“If our Twitter bid is successful, we will beat spam bots or die trying,” Musk tweeted on April 21. Earlier this year, in one of the largest tech acquisitions in history, Twitter announced that it had accepted a $44 billion offer by Musk. The deal was expected to be completed by October. However, it went through many twists and turns. The billionaire even warned that he would suspend a deal with Twitter if the platform fails to provide data on spam and bot accounts.

“Twitter’s attempt to flag this as otherwise is simply an attempt to muddle and confuse the issue. Mr. Musk has made it clear that he does not believe the company’s loose testing methods are sufficient so he should do his own analysis. The data he requested is necessary to do so,” the billionaire’s team wrote, according to filings with the US SEC.

Image: Associated Press/Shutterstock

Nation World News Desk
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