Top line
In a letter to the company on Monday morning, Elon Musk threatened to withdraw from his 44 44 billion deal to take over Twitter. Filed With the Securities and Exchange Commission, the social media giant has been accused of violating their consolidation agreement by rejecting an outside analysis of the number of automated accounts on the platform.
Elon Musk attended the 2022 Met Gala in May.
Basic information
A Letter Addressing Twitter’s top lawyer, Bijaya Gadde, Musk’s lawyers argued on behalf of the billionaire that he needed more information about the “bot’s” presence on Twitter – otherwise Musk reserves the right to “not complete the transaction and cancel the merger agreement.”
Shares of Twitter fell 4.01% to $ 38.55 at the start of trading on Monday morning.
Twitter did not immediately respond Forbes‘Request for comment.
Original background
Monday’s letter was the latest in a series of deadly bot threats. A few weeks after Twitter accepted the offer to privatize his company, Mask Tweet His deal to buy Twitter on May 13 was “temporarily suspended” and he was skeptical of the company’s estimates of how many bots there were on the site, although Musk said at the time that he was “committed to the acquisition”. Twitter CEO Parag Agarwal said on May 16 Tweet The company does not believe that an external analysis is possible, for which Mask responded with a pop emoji. According to Musk, he is the richest man in the world Forbes‘Account, valued at $ 221.6 billion.
Large numbers
Less than 5%. This is the proportion of Twitter account which is fake or spam, According to The company’s SEC filing last month.
Important Quote
“At the moment, Mr. Musk believes that Twitter is explicitly refusing to comply with its obligations under the merger agreement, which further raises suspicions that the company is withholding requested data due to concerns about what Mr. Musk’s own analysis of that data will be.” Unveiling, ”the letter said.
The main critic
Wedbush analyst Dan Ives Tweet Monday’s letter echoed the latest evidence that Musk was “seeking to withdraw from the agreement.” Before Analysis The billionaire is using the issue as a way to get back into his proposal.
Read more
Musk replies in a Twitter statement using pop emojis that external bot analysis is impossible (Forbes)
Elon Musk’s bot problem on Twitter is extraordinary (The Wall Street Journal)
