On Monday, Elon Musk threw another cool ball when he captured Twitter.
At a technology conference in Miami, Mr. Musk, the richest man in the world, said making a deal for Twitter at a lower price was “not ruled out,” as the man who attended the event said.
Mr Mask’s comment came in response to a question about whether he would reconsider the planned $ 44 billion acquisition of Twitter due to announced figures on how many bots or spam accounts exist on the social networking service, the participant said. Mr Musk said the figure of Twitter – less than 5 per cent of all accounts – was hard to believe.
Shares of Twitter fell 8 percent to $ 37.39 on Monday. That was well below the $ 54.20 per share Mr. Musk agreed to pay last month to buy the social media company.
Mr Musk, who also heads the SpaceX rocket company and electric car maker Tesla, has resolved a confusion over the state of the deal. Last Friday, he tweeted that he had acquired Twitter “Temporarily on standby”Until he can get more information about the amount of spam and fake accounts on the platform. He later said he still “committed”To the deal.
Threshold Agraval, CEO of Twitter, also posted a long topic of tweets on Monday detail how the company calculates the number of bots. He said the company shared “a review of the evaluation process with Elon a week ago”. Mr. Musk responded to the chain with smileys.
Mr Musk did not immediately respond to a request for comment. Twitter declined to comment.
Analysts have suggested that Mr Musk was trying to drop the deal or reconsider a lower price. Shares of the tech company have suffered a beating since Musk first announced his acquisition of Twitter earlier this month. Shares of Tesla, Mr. Mask’s main source of wealth, fell nearly 30 percent.
It would be difficult to close the deal. In addition to the $ 1 billion gap fee, Mr. Mask’s agreement with Twitter includes a “specific enforcement clause” that gives the company the right to sue him and force him to close the deal as long as the loan is borrowed it took for the deal to remain intact.
But Mr Musk has also created very public headaches for Twitter. On the weekends he tweeted that Twitter’s legal department “called to complain” that it had violated the non-disclosure agreement by discussing the bot’s sample size of 100. Mr Mask’s agreement with Twitter also has a non-humiliation clause that prohibits him from negatively tweeting about the transaction.
Both sides have so far continued to act as if the deal is there. Teams from both sides held a previously scheduled meeting on Friday. (Twitter confirmed that the meeting was “part of the transaction planning process.”) On Friday, Bret Taylor, chairman of Twitter, tweeted: “We remain committed to our agreement.”
Mike Isaac contributed to accountability.