According to three unnamed individuals who informed the Washington Post that the billionaire’s team has “stopped engaged in some negotiations regarding finance” for the accord, Elon Musk’s $44 billion bid to purchase Twitter is “at risk.”
In his endeavor to acquire Twitter, Musk is not acting alone; others include Larry Ellison, the venture capital company Andreessen Horowitz, Fidelity, the cryptocurrency exchange Binance, and the state investment firm of Qatar among others who have contributed a few billion.
There are reportedly worries that Twitter’s statistics on spam and bots on the network cannot be verified, leading to the belief that a “drastic” change of course on the transaction is imminent.
The information was released shortly after Twitter had a conference call with media representatives to explain that its spam account data and bot-blocking technology are perfectly good, setting up a confrontation between the organization and its prospective new owner.
Just over a month has passed since Twitter granted Musk’s team access to a “firehose” of data to support its assertions that bots make up fewer than 5% of the total number of daily active users.
Musk’s attorneys filed a letter stating the corporation was in “clear material violation” of the purchase arrangement by refusing to grant him access to the data, and that access only became available after Elon tweeted that the deal was “on pause.”
According to Twitter, it may not be feasible for outside sources to verify their figure since doing so would involve access to information, including user data, that can’t be shared safely, as they have explained to reporters over the previous several months and once more today.
As stated in their initial agreement, breaking the deal for Musk to buy Twitter would result in someone owing someone else $1 billion. It could take a while to settle legal disputes over who is at fault and if Musk will be permitted to withdraw.
To read our blog on “According to Twitter, 1 million fake accounts are deleted daily,” click here.
