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Elon Musk no longer wants to buy Twitter? The deal is under serious threat

Three people familiar with the matter said Elon Musk’s deal to buy Twitter is in grave danger. Musk’s team concluded that Twitter data regarding spam accounts was unverifiable.

Musk’s team pulled out of discussions regarding financing the $44 billion deal, according to one source. This includes the party listed as a possible backer.

Recent weeks have slowed investor talks as Musk’s team raised concerns about the recent data regarding Twitter’s user base. People claim Musk’s team is skeptical about spam data, indicating they don’t have sufficient information to evaluate Twitter’s potential as a business.

 

One source stated that Musk’s team can now verify Twitter data against spam accounts. This could lead to potentially severe action. According to this source, Musk’s team will likely change its direction soon.

Musk could also try to avoid the deal by creating spam accounts. Twitter’s share price plummeted after its April takeover bid, implying that Musk is underpaying.

Musk cannot refuse the terms of the deal. Musk can only withdraw from the deal if there is a severe problem with Twitter’s business. Legal experts don’t believe a bot issue would be a suitable definition. Twitter, which initially opposed Musk’s takeover offer, will suffer if the deal is not completed. Twitter stated that it would close the deal. Musk can refuse to sign the deal, but he will be subject to a $1 million termination penalty.

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