Elon Musk stated on Saturday that his $44 billion acquisition of Twitter should proceed if the company can clarify specifics of how it determines whether user accounts are owned by “spam bots” or by actual people.
A Bit of a Controversy
On Saturday, Twitter declined to respond. Less than 5% of user accounts are believed to be false or spam, according to the company’s frequent disclosures to the Securities and Exchange Commission, with the caveat that this number could be higher. When Musk agreed to the April merger agreement, he gave up his right to additional due diligence.
Because market conditions have worsened and the acquisition no longer serves Musk’s interests, Twitter has contended in court that Musk is consciously attempting to kill the deal.
His counterclaims are characterized in a court document filed on Thursday as “contradicted by the evidence and common sense.” How this would play out for Musk would be certainly difficult, but we’re sure he can pull something off quite soon.