Twitter’s board plans to “enforce” its deal with Elon Musk.
Musk and the platform agreed to purchase the platform at approximately $44 Billion. The New York Times reported Twitter’s decision to complete the purchase.
According to Twitter, the board said that Mr. Musk and the board had agreed on a $54.20 share transaction. The New York Times. We believe that this agreement is best for all shareholders. We intend to close the transaction and enforce the merger agreement.”
Twitter previously said it was “committed to completing the transaction on the agreed price and terms as promptly as practicable.”
Musk alleged earlier this week that Twitter’s filings with the Securities and Exchange Commission regarding spam accounts could be inaccurate. He said the number of spam accounts could be “much” higher than what the platform originally claimed.
“20% fake/spam accounts, while 4 times what Twitter claims, could be *much* higher. Musk: My offer was based upon Twitter’s SEC filings being correct. tweetedReferring to bot accounts. “Yesterday, Twitter’s CEO publicly refused to show proof of <5%. This agreement cannot be moved forward unless he proves 5%.
Twitter had previously encouraged shareholders vote for the deal.
“If the merger is completed, you will be entitled to receive $54.20 in cash, without interest and subject to any applicable withholding taxes, for each share of our common stock that you own (unless you have properly exercised your appraisal rights),” Twitter told shareholders in an SEC filing.
The Times reported that some speculated that Musk deliberately tried to “drive down the acquisition price” to get a better deal:
“Mr. Musk’s increasingly skeptical — and erratic — comments about the takeover have kept investors, bankers and Twitter itself guessing about his motives. Many analysts believe Musk, 50 years old, is trying lower the price of the acquisition or to walk away. Many were unnerved by his methods, with market-moving pronouncements made off the cuff at conferences or in emoji-laden tweets in the middle of the night.”
NewsBustersLast month, Musk said something against Big Tech censorship. He also criticised the platform for being censored. New York Post’s Hunter Biden story.
“Suspending the Twitter account of a major news organization for publishing a truthful story was obviously incredibly inappropriate,” he tweetedIn April.
He did not seem surprised by the “extreme” reactionsHe saw online after purchasing Twitter.
“The extreme antibody reaction from those who fear free speech says it all.” he tweeted.
Musk stated Wednesday that he still receives political abuses because of his views.
“Political attacks on me will escalate dramatically in coming months,” he warned.
Conservatives are being attacked. Contact your representatives and demand that Big Tech be held to account to mirror the First Amendment while providing transparency, clarity on “hate speech” and equal footing for conservatives. We can help you if your information has been blocked. Contact the Media Research Center Contact formHelp us to hold Big Tech responsible.
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