The Twitter board he has no intention of stepping back. A company spokesperson confirmed to CNN that the board of directors has no intention of agreements already made with Elon Musk. No discount compared to the amount initially proposed and apparently not even independent audits to verify the veracity of the data on the number of bot accounts.
“The board and Musk have agreed a transaction of $54.20 per share,” the spokesperson reiterated. We believe that this is in the best interest of the shareholders, therefore we intend to close the transaction and follow up on the agreement ».
Last week Elon Musk has announced it will pause the acquisition and has publicly asked Twitter to submit its data for an internal review. We are talking about the numbers fake accounti (spam, bots and duplicates) which, according to the social network, would make up less than 5% of the total number of active users. A number that does not convince the founder of Tesla, according to which fake accounts are 20% of active users on the social network.
Still, it seems Musk has his hands tied. “It’s likely he’s trying to renegotiate the cost of the acquisitions for purely market reasons,” Matt Levine wrote in Bloomberg. “But this is not allowed because of the agreement he signed: he cannot just leave the negotiating table because the Twitter share price has collapsed in the meantime. The market risk lies entirely with the buyer.”
Source: Lega Nerd
