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The Elon Musk deal to buy Twitter for $44 billion could be derailed

Elon Musk once again reminded of his intentions to derail the deal to buy Twitter if the company does not provide Mr. Musk with detailed reports on the number of fake accounts.

Elon Musk

The Elon Musk deal to buy Twitter for $44 billion could be derailed. Source: youtube.com

According to Reuters, it’s not a one-time event when Elon Musk pushes Twitter to provide him with this analytical data, otherwise, the deal to buy Twitter for $44 billion will be derailed. At this point, the situation has reached the boiling point. Elon Musk’s lawyers sent an official letter to Twitter’s chief legal officer, Vijaya Gadde, accusing the company of violation of its obligations under the deal. 

Accordingly, yesterday Twitter stock fell 1.5% to 39,57 dollars per share which is well below the nominal purchase price of $52.20. Against the background of non-geopolitical tilt and inflation, not only Twitter shares but also Tesla shares have seen a sharp downfall. Elon Musk’s lawyers are putting pressure on Twitter to provide an in-depth report on fake accounts, otherwise, the deal will be on the cusp of disruption. 

Musk is anxious that the number of fake Twitter accounts exceeds 20% so it’s important for him to officially confirm the number of these accounts. Tons of independent analysts are already skeptical of the idea and believe that the number of fake accounts on Twitter can vary from 9 to 15%.

We’ve reported Elon Musk will lay off 10% of Tesla workers.

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