While Elon Musk finally announced, on October 4, that he wanted to buy Twitter at the agreed price of 44 billion dollars, this one would now like to renegotiate the amount of the transaction. The billionaire would have offered to acquire the social network for 30% less than the price it committed to last April.
Elon Musk offers 30% less
Yet another turn of events in the saga that is shaking the social media industry. According to several sources familiar with the matter, Elon Musk and Twitter would befor several weeks already, under discussion to upgrade the buyout of the Californian company.
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the New York Times reports that the CEO of Tesla would have offered 30% less to buy Twittervaluing the social network to $31 billion. An offer that the company would have refused.
Over the past week, trading was further mention of a 10% discountbringing the cost of acquisition at $39.6 billion. A far cry from $54.20 per share promised by Elon Musk six months earlier.
According to the sources, the discussions would not have succeeded. “ The company’s intention is to close the transaction at $54.20 per share. said a Twitter spokesperson in response to a public letter from the billionaire posted earlier this week.
The trial date draws near
Elon Musk’s change of position comes a few days before the start of his trial against Twitter. As a reminder, last July, the social media giant attacked the general manager of SpaceX after the latter decided to cancel the takeover.
On his side, Elon Musk claims Twitter misled him about number of alleged fake accounts on the platform. Whether the social network ensures that the number of bots and spam is less than 5%the richest man in the world believes thatthey represent 20% of profiles. At a preliminary hearing, a judge ruled that ” obsession [d’Elon Musk] for fake accounts was off topic “. A sufficient statement to change the entrepreneur’s mind and push him to close the deal.
Although Elon Musk asked Twitter to put an end to the legal proceedings brought against him, Kathaleen McCormick, the judge supervising the trial, points out that ” the parts have not filed a stipulation to stay this actionand neither party requested a stay “. She adds that ” Therefore, [elle] keep moving towards the trial which is due to start on October 17 “.