According to media reports, tech billionaire Elon Musk’s Twitter deal is in jeopardy, and that of course has an impact on the short message service’s stocks.
A US newspaper report that the agreed takeover by tech billionaire Elon Musk was about to collapse has put pressure on Twitter on the stock exchange.
The share of the short message service fell by more than seven percent after the trading day on Thursday. Most recently, the price was still almost four percent in the red. The trigger was a report by the Washington Post that the ongoing conflict between Musk and Twitter management over the number of spam and fake user accounts on the platform was seriously jeopardizing the $44 billion takeover.
An anonymous source is quoted in the report as saying that Musk’s staff consider the information from Twitter to be unverifiable. His team stopped engaging in talks about financing the deal. The conflict over fake accounts is not new. Musk has already threatened to scrap the deal. Some observers see the bickering as Musk’s excuse to get out of the expensive takeover. He and Twitter have agreed to a $1 billion penalty if either party backs out of the deal. But if Twitter insists on enforcement, it could still be legally difficult for Musk.
Source: Stern
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
