The chaos surrounding Twitter’s takeover continues as billionaire Elon Musk tries to hit the brakes by accusing the company of underestimating the number of fake accounts mentioned in its public listings.
But if you thought that would affect Twitter, well, think again. We’ve already seen the Twitter CEO provide his justification and clarification on the matter which Elon Musk failed to acknowledge and instead opted to reply with a poop emoji.
Now, however, Twitter says it is moving ahead with its original plans of $44 billion for the world’s richest man, whether he likes it or not.
Recently, the company mentioned through a public statement how it was beyond committed to fulfilling the designated transaction over the price mentioned at the beginning of the deal. This includes all the terms of service laid out from the start too.
In addition to that, we saw Twitter’s board put forward its statements in bold terms while speaking with the New York Times. Here is where they strongly commented on closing the deal while enforcing the agreement made for the merger too.
These statements are not being looked upon as a major shock. After all, when you’ve got a billionaire like Elon Musk trying to defame the company and accuse it of underestimating the truth, you’re going to have to fight back somehow.
But again, Elon Musk continues to remain unconvinced, calling for evidence that proves how the less than 5% figure for fake profiles has come up or was calculated.
Musk’s major concern is the underestimation of the spam and bot accounts and how he believes he’s been lied to.
Yesterday, CEO Agrawal refused Musk’s request for public evidence and that’s when Musk tweeted how the deal just wouldn’t be able to be finalized unless his request was fulfilled.
At the same time, rumors are flying high about Elon Musk potentially backing out because he feels the price quoted is just too much and hence is doing everything in his power to back down from it.
But remember, if he does actually intend on backing out, he’s going to suffer some major losses or be penalized big time as stated in the agreement or contract he signed with Twitter.
Another report from CNBC has shed light upon how things could even take a u-turn and go in Elon Musk’s favor. And that’s if he makes allegations relating to the company taking part in fraud and failing to report the right number spam across the app.
Twitter might respond with a mega lawsuit that sues the billionaire a hefty amount in case the deal does not go through. In addition, we might see the Tesla CEO be dragged to the courtroom with demands that he buys the social network at the price that was originally stated. Moreover, they would then be using their initial contract and its terms outlined as proof.
Clearly, this is a stick situation and not one that anyone wants to get into. In the meantime, we’re seeing Elon Musk continue with his allegations while asking for regulatory bodies such as the Securities & Exchange Commission of the US to intervene and conduct their investigations.
Read next: Twitter Gives Users A New Layer Of Conversation With The Launch Of Its Super Follower
But if you thought that would affect Twitter, well, think again. We’ve already seen the Twitter CEO provide his justification and clarification on the matter which Elon Musk failed to acknowledge and instead opted to reply with a poop emoji.
Now, however, Twitter says it is moving ahead with its original plans of $44 billion for the world’s richest man, whether he likes it or not.
Recently, the company mentioned through a public statement how it was beyond committed to fulfilling the designated transaction over the price mentioned at the beginning of the deal. This includes all the terms of service laid out from the start too.
In addition to that, we saw Twitter’s board put forward its statements in bold terms while speaking with the New York Times. Here is where they strongly commented on closing the deal while enforcing the agreement made for the merger too.
These statements are not being looked upon as a major shock. After all, when you’ve got a billionaire like Elon Musk trying to defame the company and accuse it of underestimating the truth, you’re going to have to fight back somehow.
But again, Elon Musk continues to remain unconvinced, calling for evidence that proves how the less than 5% figure for fake profiles has come up or was calculated.
Musk’s major concern is the underestimation of the spam and bot accounts and how he believes he’s been lied to.
Yesterday, CEO Agrawal refused Musk’s request for public evidence and that’s when Musk tweeted how the deal just wouldn’t be able to be finalized unless his request was fulfilled.
At the same time, rumors are flying high about Elon Musk potentially backing out because he feels the price quoted is just too much and hence is doing everything in his power to back down from it.
But remember, if he does actually intend on backing out, he’s going to suffer some major losses or be penalized big time as stated in the agreement or contract he signed with Twitter.
Another report from CNBC has shed light upon how things could even take a u-turn and go in Elon Musk’s favor. And that’s if he makes allegations relating to the company taking part in fraud and failing to report the right number spam across the app.
Twitter might respond with a mega lawsuit that sues the billionaire a hefty amount in case the deal does not go through. In addition, we might see the Tesla CEO be dragged to the courtroom with demands that he buys the social network at the price that was originally stated. Moreover, they would then be using their initial contract and its terms outlined as proof.
Clearly, this is a stick situation and not one that anyone wants to get into. In the meantime, we’re seeing Elon Musk continue with his allegations while asking for regulatory bodies such as the Securities & Exchange Commission of the US to intervene and conduct their investigations.
Read next: Twitter Gives Users A New Layer Of Conversation With The Launch Of Its Super Follower