Elon Musk says that the Twitter deal might proceed but under one specific condition. They need to provide accurate data and specify the exact method they used to do it. If Elon finds the method ‘good’ and ‘valid’ he might comply. “However, if it turns out that their SEC filings are materially false, then it should not.” – the tech giant tweeted.
Elon Musk labels the Twitter trial as a desperate try by the social media giant to ‘force’ him into closing the transaction. However, from Twitter, they have a very different view of the situation. On Musk’s claims that he is hoodwinked into signing the deal, they respond by saying that this is completely contrary to what’s happening.
The Twitter Deal Is Still On – Elon Says All They Have To Do Is Provide Valid Data
“Musk invents representations Twitter never made. Then he tries to wield, selectively, the extensive confidential data Twitter provided him to conjure a breach of those purported representations.” – Twitter representatives state.
The tech giant and the wealthiest person in the world is into the ‘deal negotiations’ for quite some time now. According to critics, Musk made the bid for the social media at a completely ‘wrong’ time. He bid for taking over the company at a moment when the stock market price was at its highest that it has ever been.
Initially, Elon said that the cost-effectiveness of the deal is not important. However, now his mind seems changed since he is overpaying by a couple of billion dollars. According to analysts and critics from all over the world, the backing off from the deal is not due to the reason he claims. The real reason is completely different. He realized that he made a mistake. Even though Twitter is one of the world’s leading social media companies, it’s still not worth overpaying for it.
Yes, there are someone clear things in the method that they have used for determining the number of fake or spam accounts on the platform. For example, they say that they obtained the number of 5% by doing a survey that included only 100 randomly chosen accounts.
The Twitter platform has more than 200 million active users on a daily basis. So it can be surely said that the method of checking 100 accounts only most probably gave an incorrect estimation.
Twitter actually confirmed that they cannot provides any additional information on the data gathering method. They can’t elaborate more on how they got the 5% number. So according to this, most probably we can presume the deal will not go on. Is this a valid reason to break the deal? That depends on what did both sides sign in the initial agreement. What do you think? Could the deal go on?
https://www.youtube.com/shorts/L0yBv36tl7s
