Elon Musk speaks at the SATELLITE Conference and Exhibition March 9, 2020, in Washington.
Twitter could have pushed for a $1 billion breakup fee that Musk agreed to pay under these circumstances. Instead, it looks ready to fight to complete the deal, which the company’s board has approved and CEO Parag Agrawal has insisted he wants to consummate. Musk lawyer Mike Ringler wrote in the letter to Twitter dated Friday that for nearly two months, Musk has sought data to judge the prevalence of “fake or spam” accounts on the social media platform.
On Thursday, Twitter sought to shed more light on how it counts spam accounts in a briefing with journalists and company executives. Twitter said it removes 1 million spam accounts each day. the spam accounts represent well below 5% of its active user base each quarter.
Musk’s flirtation with buying Twitter appeared to begin in late March. That’s when Twitter has said he contacted members of its board — including co-founder Jack Dorsey — and told them he was buying up shares of the company and interested in either joining the board, taking Twitter private or starting a competitor. Then, on April 4, he revealed in a regulatory filing that he had became the company’s largest shareholder after acquiring a 9% stake worth about $3 billion.
$TSLA is up almost 1.5% since the announcement. $TWTR is down over 6% since the announcement and Twitter also announced a layoff due to the sale falling through. Seems elonmusk just cucked the cult.
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