This Deal Cannot Move Forward: Musk

The acquisition of social media giant, Twitter has taken a big turn. TESLA CEO Elon Musk who inked a deal to buy Twitter for $44 billion, has tweeted that the deal cannot move forward because he is seriously concerned about the fake and spam accounts on the platform.

Apparently Musk wanted to make remarkable changes in Twitter including eliminating the fake and spam accounts. Accordingly he seeked a report from Twitter on the percentage of fake/spam accounts. Twitter co-founder Jack claimed that the fake/spam accounts only tune up to 5 percent but he failed to show concrete evidence for the same.

This irked Musk and he added that he cannot go ahead with the data not being revealed to him. Musk said that he offered $44 billion based Securities and Exchange Commission (SEC) filings. Yet Musk wants to wait till Jack comes up with the factual data on fake/spam accounts on Twitter.

“20% fake/spam accounts, while 4 times what Twitter claims, could be much higher. My offer was based on Twitter’s SEC filings being accurate. Yesterday, Twitter’s CEO publicly refused to show proof of <5%. This deal cannot move forward until he does,” tweeted Musk.

Though Musk is keen to acquire Twitter, he doesn’t want to offer such huge money for the platform that has close to 20 percent of fake/spam accounts. This tweet has put Twitter in a dilemma and if it continues to dodge, Musk might lose interest and eventually turn down the deal.