Twitter pushes Elon Musk to complete $44bn deal as he calls for SEC investigation
2 years, 7 months ago

Twitter pushes Elon Musk to complete $44bn deal as he calls for SEC investigation

The Telegraph  

Twitter has demanded that Elon Musk goes ahead with his $44bn takeover of the company as a row over fake user accounts threatens to derail the deal. The social network said in a filing on Tuesday that it was "committed to completing the transaction on the agreed price and terms as promptly as practicable" after Mr Musk said he wanted to pause the takeover, one of the biggest debt-fuelled buyouts in history. The intervention comes after Mr Musk said “the deal cannot move forward” unless Twitter backs up its claim that fewer than 5pc of daily users are fake. Mr Musk, who had promised not to publicly disparage Twitter and its executives when he agreed the takeover last month, has ramped up attacks on the social network by claiming it dramatically underestimates how many users are fake or pushing spam.

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