Elon Musk Says Twitter Deal Is 'Temporarily On Hold'
Tesla CEO Elon Musk said on Friday his $44-billion deal for Twitter Inc was temporarily on hold, citing pending details on spam and fake accounts
“Twitter deals temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5%of users,” Musk wrote on Twitter
Two hours after his first tweet, Musk took to the platform again to say he was “still committed to acquisition”.
The social media company's shares fell 17.7% in premarket trading to $37.10, it's the lowest level since Musk disclosed his stake in the company in early April
And then Musk made a "best and last" offer, selling it at 54.20 per share
The implied probability of a deal closing at the agreed price fell below 50% for the first time on Tuesday, when Twitter's stock fell below $46.75.
Twitter's stock has plunged over 19 %, on the other hand, Tesla has risen 5 % on the US futures in pre-market trade