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Twitter execs say they won’t let Elon Musk out of the deal

Twitter execs say they’re not playing Elon Musk’s games.

On Thursday, executives told employees at a company town hall that they would not renegotiate the price of its $44 billion acquisition agreement — a source familiar with the matter confirmed to The Daily Beast — even as Musk tries to dispel doubts to stoke the number of fake accounts on the platform.

Twitter’s stock price is currently hovering around $38 per share, well below the $54.20 per share Musk pledged last month.

The terms of the buyout deal will make it difficult for him to wriggle out of the deal. It includes a $1 billion breakup fee, and the company could sue to try to force Musk to go through with the transaction.

Last week the Tesla billionaire tweeted that he put the buyout on hold until Twitter could prove that spam and fake accounts make up no more than 5 percent of its users, the platform has publicly stated. He has hinted that the estimates are dramatically off, but has not publicly presented any hard evidence.

Musk later added that he was “still committed” to the acquisition and indicated he was open to a deal at a lower price.

Days after Musk’s first tweet, Twitter CEO Parag Agrawal attempted to outline the company’s approach to managing fake accounts in a lengthy report Twitter thread. Musk responded with a poop emoji.

The shitposting billionaire continued to troll and post on the platform Thursday afternoon a meme mocks his approach to bots.

Musk has found other reasons to strike lately. On Wednesday, he branded the ratings behind the S&P 500 ESG Index – which includes companies committed to environmental, social causes and corporate governance – as an “outrageous fraud”! The index dropped Tesla over concerns about how it was handling a federal safety investigation and alleged racial discrimination at one of its plants, among other things.

Later that day, Musk formally declared that he would vote Republican in the upcoming election after blasting “fake social justice fighters” and the “leftist agenda.”

https://www.thedailybeast.com/twitter-execs-say-they-wont-let-elon-musk-weasel-out-of-deal?source=articles&via=rss Twitter execs say they won’t let Elon Musk out of the deal

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