The owner of Tesla and SpaceX, Elon Musk, is expected to finalize the acquisition of Twitter on this Friday, October 28.

This was indicated by several agencies, who indicated that Musk promised to close the purchase of the social network during a videoconference made with different banking entities. Musk is estimated to be expecting a $13 billion loan.

The banks, which are providing $13 billion of debt financing, have finished drawing up the final credit agreement and are in the process of signing the paperwork, one of the last steps before sending the capital to Musk. part of the Bloomberg article.

The agreement for the purchase of Twitter appears as one of the topics that has given the most talk in recent months, since the eccentric tycoon is characterized by the ambivalent position with which he has been handling this entire process.

At the time, Musk struck the first blow on the table by offering 44,000 million to take over the property of the social network, which the Twitter board quickly accepted and began the procedures to make the acquisition of the company effective.

K. Tovar

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Source: Diariobitcoin

La entrada Musk will finalize the purchase of Twitter soon apareció primero en Bitfinance.

Elon Musk warned that he reserves the right “not to consummate the transaction” of 44,000 million dollars to acquire Twitter in view of the resistance offered by the company to satisfy his demands for information about fake user accounts, spam and bots in what that it considers a breach of the obligations of the owner of the social network.

Shares of Twitter were down more than 4 % after the start of Wall Street on Monday and were trading at $38.59, well below the $54.20 purchase offer price planted by Musk.

In a letter sent by Musk’s lawyers, and published by the United States Securities Market Commission (SEC), the tycoon’s legal team warns that Twitter’s behavior to date makes Musk think that “it actively resists and defeats your information rights under the merger agreement.”

“This is a clear material breach of Twitter’s obligations under the merger agreement and Mr. Musk reserves all resulting rights, including his right not to consummate the transaction and his right to terminate the merger agreement,” they warn.

On May 13, the businessman decided to temporarily suspend the purchase of Twitter while waiting to learn more details about the proportion of fake accounts and ‘bots’ out of the total number of active users of the social network, although he claimed to be “still committed to the acquisition”.

Twitter had acknowledged in SEC filings that there were “inherent challenges in measuring usage and engagement” from the social network’s large number of total accounts around the world, adding that the metrics may be affected by efforts to reduce malicious activity on the service, including ‘spam’, malicious automation and fake accounts.

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Source: CNN

La entrada Elon Musk threatens to cancel Twitter purchase apareció primero en Bitfinance.

Entrepreneur Elon Musk, founder and CEO of Tesla and SpaceX, explained that Twitter must present evidence that the number of false accounts on its social network is less than 5% for the purchase offer for 44,000 million dollars to go ahead.

On Friday, Musk himself already decided to “temporarily” suspend the agreement “pending details that support the calculation that fake/spam accounts represent less than 5% of users.”

In a new message posted on the social network this week, Musk noted that the social network’s CEO recently refused to show proof that fake accounts are less than 5%. “The deal can’t go forward until it does.”

In relation to the calculation made by some analysis firms that the number of false accounts could reach 20%, Musk indicated that the figure could be “much higher”. Faced with a message from another user assuring that the number of false accounts could be above 50%, Musk has responded “exactly”.

K. Tovar

Source: CNN

La entrada Musk calls for proof of fake Twitter accounts apareció primero en Bitfinance.