Twitter: expresses determination to complete Musk's plan
(CercleFinance.com) - Twitter said on Tuesday that it is determined to complete the acquisition project launched by Elon Musk according to the price and terms agreed upon, and as quickly as possible.
This statement comes as the San Francisco-based company filed a proxy statement with the SEC regarding the deal.
The statements come after Elon Musk said overnight that his bid would not succeed until Twitter's chief executive prove that spam represented less than 5% of the micro-blogging site's users.
Musk believes that the number of spam and fake accounts could in fact exceed 20% of the total user base.
The ball is now in the court of Twitter and its board of directors, who will have to respond to Musk's accusations, which means that new audits may be necessary, Dan Ives, an analyst at Wedbush Securities said.
He believes that the chances of a deal being reached do not look good, saying that the cancellation of the transaction has at least a 60% probability of occurring, with Musk's payment of the expected commissions in the event of the operation failing.
As a result, Twitter shares were down over 1% in pre-market trading on the Nadaq today.
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