Abhoy Sarkar's Avatar
published in Blogs
May 15, 2022
Musk puts $44 billion Twitter (TWTR, $40.70) acquisition on hold

Musk puts $44 billion Twitter (TWTR, $40.70) acquisition on hold

Tesla CEO Elon Musk has decided to put his Twitter acquisition on hold temporarily,  according to his latest tweets on the same.

 "Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users," Musk tweeted, while adding he was "still committed to acquisition."

The initial tweet followed a May 2 story published by Reuters, which was based upon a regulatory filing mentioning that Twitter had 229 million users who viewed consistent ads, and that fewer than 5% of its "monetizable daily active users" were false or spam accounts.

To fund his the $44 billion deal, Musk is banking on Tesla's stock value.

Related Tickers: TWTR