Twitter Slips as $44B Take-Private Deal With Musk in ‘Serious Jeopardy’
2022.07.08 03:30
By Yasin Ebrahim
Investing.com — Twitter slipped in afterhours Thursday on a report that its $44 billion take-private deal with Elon Musk is in “serious jeopardy” as ongoing doubts about spam accounts prompted the billionaire to cool efforts to secure funding for the deal.
Twitter Inc (NYSE:TWTR) fell more than 3% in after-hours trading following the news.
Musk and his team put efforts to secure funding for the deal on ice after deeming that Twitter’s figures on spam accounts aren’t verifiable, the Washington Post reported, citing unnamed sources.
Twitter has said it removes more than 1 million spam accounts every day, estimating that bot accounts represent less than 5% of users on its social media platform. Recently, in an attempt to address Musk’s concerns, the social media company delivered a trove of data, but Musk’s team continues to be wary and believes “they do not have enough information to evaluate Twitter’s prospects as a business,” the report said, citing the sources.
