Twitter purchase deal possibly in jeopardy

Elon Musk, the CEO of Tesla and SpaceX, may have to rethink his $44 billion plan to buy Twitter, a report on Thursday claimed.

According to a report by Fox News, The Washington Post was informed by people with knowledge of the situation that Musk’s team had stopped talking about funding. In premarket trade, Twitter stock fell by more than 4%.

The social media platform and Musk’s team have been at odds over “spam bots” in recent weeks, and Musk’s team has threatened to walk away from the contract if the company can’t demonstrate that fewer than 5% of its daily active users are automated spam accounts.

According to Musk, Twitter severely undercounted the quantity of these “spam bots” using its site. According to numerous stories at the time, Twitter reportedly gave Musk access to its “firehose” of raw data on hundreds of millions of daily tweets, though neither the business nor Musk verified this.

Twitter makes a stunning announcement

During a call with executives on Thursday to discuss the company’s bogus and bot accounts, Twitter stated that it removes 1 million spam accounts daily.

During the call, Twitter stated that the spam accounts make for significantly less than 5% of its active user base each quarter. IP addresses, phone numbers, and location are examples of private data that isn’t accessible to the general public and isn’t included in the data “firehose” provided to Musk. According to Twitter, this sensitive information helps prevent falsely labeling actual accounts as spam.

After determining that Twitter’s statistics on spam accounts cannot be verified, Musk’s team is set to take “dramatic action,” The Post claimed.

Twitter directed FOX Business to a statement it released at the beginning of June, in which it promised to continue working with Musk and sharing information in a cooperative manner “to complete the acquisition in accordance with the terms of the merger agreement.”

Twitter responds

“We believe this agreement is in the best interest of all shareholders,” Twitter said. “We intend to close the transaction and enforce the merger agreement at the agreed price and terms.”

Musk’s potential exit from the agreement may potentially start a protracted court struggle. The Tesla CEO was contacted by FOX Business for comment, but no response was received before the article was published.

Later on, Thursday, the alleged inventor of Dogecoin responded to a post claiming that Twitter purges more than 1 million spam accounts daily by asking, “How many new legitimate accounts does it have every day?” Musk responded, confirming that was the real question.

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