Musk tweeted that the Twitter deal was on hold as it awaited the results of an investigation that “spam or fake accounts account for less than 5% of users.”
Musk had also said on Twitter days earlier that one of his top priorities was to remove “spam bots” from the platform.
NEW YORK, May 11 (Reuters) – U.S. stock markets on Tuesday reflected for the first time that investors believe Elon Musk is unlikely to buy Twitter Inc for $44 billion, as he initially agreed.
Twitter shares fell as low as $46.75 on Tuesday. Based on Musk’s proposed acquisition price of $54.20 per share and Twitter’s closing price of $39.31 on April 1, this implies that Musk’s $44 billion acquisition of Twitter is less than 50% likely.
