American billionaire and businessman Elon Musk offered Twitter to complete the acquisition of the social network at the original price of $44 billion, or $54.2 per share, Bloomberg has learned.
Musk notified the company management in writing. Following this information, Twitter shares rose in price by more than 12%.
- Musk agreed to buy back Twitter in April, but in early July, the businessman officially backed out of the deal and informed the company about it. The reason was the overestimated number of real Twitter users, while some of them belong to bots.
- Twitter also stated that the participation of such accounts does not exceed 5% of the total number of users. The billionaire believed that fake accounts could exceed 20-25% of all Twitter users.
- Subsequently, the leadership of the social network filed a lawsuit against Musk, trying to force him to close the deal. According to the company, the billionaire is withdrawing from the deal due to the depreciation of Twitter shares. In late July, Musk filed a countersuit, the details of which were not disclosed.
- Musk then found a new reason to end the Twitter deal: a statement from former Twitter security chief Peter Zatko. He spoke about the shortcomings in the social network’s work with personal data, including the use of outdated software. Twitter called these claims false.
Author:
anastasia mariana
Source: RB
I am Bret Jackson, a professional journalist and author for Gadget Onus, where I specialize in writing about the gaming industry. With over 6 years of experience in my field, I have built up an extensive portfolio that ranges from reviews to interviews with top figures within the industry. My work has been featured on various news sites, providing readers with insightful analysis regarding the current state of gaming culture.
