Bear in mind when Elon Musk announced he was buying Twitter and that bombshell then reverberated throughout the social community for days on finish? Properly, right now is one other fascinating day on this saga, as Musk revealed that the deal is “briefly on maintain”, pending “particulars supporting calculation that spam/pretend accounts do certainly symbolize lower than 5% of customers”.
Should you’re confused as to what he is speaking about, a Reuters report got here out earlier this month saying that Twitter itself estimates spam and pretend accounts to comprise lower than 5% of customers. Now, nevertheless, Musk appears to be unconvinced that it is solely 5% of customers.
Clearly, if a a lot greater proportion of Twitter customers are spam bots and fakes, then the worth of the corporate to a purchaser would lower, wherein case we assume Musk would supply lower than the $44 billion he is already agreed to paying. It is unclear what exactly is occurring, however the information has unsurprisingly resulted in a stoop in Twitter’s share value.
For what it is value, Musk says he is still committed to seeing the acquisition undergo, so this most likely quantities to a really late-stage negotiating tactic. We’ll let you already know what unfolds.