EXPLAINER: Is Elon Musk's deal to buy Twitter falling apart?
The IndependentFor free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Twitter is standing firm on Musk's agreed price of $54.20 per share — but since early May, the stock has fallen more than 25% below that figure. Much of Musk’s initial $46 billion plan to finance the deal used stock in Tesla, his electric vehicle company, as collateral for loans he would use to purchase Twitter shares in the deal. The Twitter sale agreement does allow Musk to get out of the deal if Twitter causes a “material adverse effect,” defined as a change that negatively affects Twitter’s business or financial conditions. That's one reason Musk may be focusing on the spam bot problem — though he waived many of his rights to peek under Twitter's hood when he signed the deal.