- In April 2022, Elon Musk presented a purchase strategy involving his own funds and a loan from Morgan Stanley.
- Musk offered Twitter shareholders a 38% premium on the value of Twitter shares on April 1, when it was not yet known that days before he had bought almost 10% of the company.
- But it all came crashing down when, according to Musk, Twitter failed to prove that less than 5% of its accounts are fake or bots.
Twitter shares started the year at $34. It was not a good price, they had reached $67 in September 2021.
However, when Elon Musk announced that he was interested in buying Twitter, shares of the social network rose again, in this case, to $49. It was in April of this year.
But time passed, the deal fell through, and the network’s shares fell to $36, practically back to square one.
In this context of billions of dollars, it is necessary to understand the dispute between the tycoon of South African origin and the blue bird’s social network, which is already in court and this week has a new chapter again when Musk says that the agreement purchase for 44 billion dollars could be sustained.
Indeed, Elon Musk said on Monday that if Twitter could explain what the account sampling method is like and confirm that more than 95 percent are real, the purchase “It should continue on its original terms.”
That is, with the payment of 44 billion dollars by the founder of Tesla, he says Reuters.
“However,” Musk clarified, “if your SEC filings turn out to be false, then you should not proceed with the purchase.” finished.
Musk said it on Twitter, precisely the network with which he has a strong dispute, in response to a user who asked him if the United States SEC, the body that regulates the stock market in that country, was investigating “dubious claims” of the company, Musk said in the thread: “Good question, why aren’t they doing that?”
Twitter vs Musk: the war continues
Last week, Twitter dismissed Musk’s claims that he was duped into signing the deal to buy the social media company, saying it was “implausible and contrary to fact”.
“According to Musk, was he, the billionaire founder of several companies, advised by dozens of Wall Street bankers and lawyers, tricked by Twitter into signing a $44 billion merger deal? That story is as far-fetched and untrue as it sounds,” the Twitter presentation reads.
Musk filed a countersuit against the social network on July 30, further inflaming the legal dispute against the company as it tries to get out of the purchase agreement it signed in May.
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