Musk had offered $ 44 million. Photo by Reuters
Elon Musk canceled the Twitter purchase. According to the richest man in the world, his advisors sent a letter to the company on Friday formally informing that he would terminate the deal, for which he was willing to pay $ 44 billion. You will have to pay billions dollars to back down.
Musk has previously voiced his doubts and even hinted that he may abandon the deal out of concern over the large number of fake accounts.
Despite having access to internal data, the billionaire was unable to specify the percentage of fake profiles, according to various internal reports.
Although Musk had previously made comments questioning his commitment to the deal, the latest report quoted an unnamed source as saying his team is preparing for a “change of address”.
The shares of Twitter, already trading below the price offered by the business tycoon, they sank about 4% after the news.
Twitter did not respond to a message looking for feedback. It is not entirely clear whether Twitter’s board of directors will accept the $ 1 billion cancellation fee or whether there will be a court battle over the deal.
The potential breakup of the deal is just the latest twist in the saga between the richest man in the world and one of the most influential social media platforms. Much of the drama took place on Twitter itself, where Musk (who has more than 95 million followers) complained that the company falls short of its potential as a platform for free speech.
News in development
Source: Clarin
