Musk says $44 billion Twitter deal on hold over fake account data

Published by
Reuters

By Nivedita Balu and Kenneth Li (Reuters) -Elon Musk tweeted on Friday that his $44-billion cash deal for Twitter Inc was “temporarily on hold” while he waits for the social media company to provide data on the proportion of its fake accounts. Twitter shares initially fell more than 20% in premarket trading, but after Musk, the chief executive of electric car market Tesla Inc, sent a second tweet saying he remained committed to the deal, they regained some ground. The shares were down 9.6% to $40.71 in midday trading on Friday, a steep discount to the $54.20 per share acquisition price. Musk, …

Read More