CEO of Twitter Elon Musk has signaled, through a lawyer, that he wants to rescind the $44 billion deal he offered to acquire Twitter. This is most likely due to the ongoing dispute on Twitter’s true active user count. Musk says that Twitter has misrepresented its actual user base by saying less than 5% of the platform’s accounts are spam or bots. Then there is the issue of Twitter releasing certain data to Elon Musk’s team. The lawyer’s statement argues that much of this data is unusable.
Some would argue that Musk got in way over his head when he pursued the idea of purchasing Twitter. So then when the SEC got involved, and lawyers got involved, the process of buying Twitter became a monster much bigger than what Musk originally imagined. Then there is the train of thought that says all of this back-and-forth with Twitter is simply a negotiation tactic to get some billions knocked off of the outrageous $44 billion price tag.
Elon Musk tells Twitter he’s terminating deal to buy social media giant | Fox Business
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Elon Musk tells Twitter he wants out of his deal to buy it | CNN Business
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