Previously Elon Musk has put the $44 billion Twitter deal on hold
Elon Musk previously announced that his $44 billion purchase of Twitter Inc was temporarily halted owing to awaiting information on spam and fake accounts.
“Twitter deal on hold temporarily seeking information supporting calculation that spam/fake accounts do constitute less than 5% of users,” Musk tweeted.
Understand what was the deal?
Elon Musk made a bid to acquire Twitter for $43 billion on April 14. Musk stated, “I propose to acquire 100% ownership for $ 54.20 per share, a 54 percent premium to the cost the day before I began investing in Twitter.” This is my best and final offer, and if it is not accepted, I will be forced to reevaluate my position as a shareholder. Musk has 9.2 percent of Twitter. It was announced on April 4th.
Musk’s first bid was $43 billion, but since Twitter’s transaction was authorized on Monday, that sum has risen to $44 billion. It is unknown how the figure increased.