Musk did not seek proper scrutiny and the $ 44 billion deal will be completed: Twitter

The buyout saga of Twitter, led by Elon Musk, continues – the billionaire clarified the comments he made on All-In Summit in Miami regarding his belief that 20% of the platform’s accounts are fake or spam, a problem that prompted Musk to announce the $ 44 billion acquisition on hold.

“20% fake / spam accounts, while 4 times more than what Twitter claims can be * much * higher. My offer was based on the exact Twitter documents for the SEC. Yesterday, the CEO of Twitter publicly refused to show evidence of <5%. "This deal can't go on until it does," Musk said tweets.

Meanwhile, Twitter released its account of talks with Musk on Tuesday, revealing that the billionaire did not raise questions about non-public issues related to the social media company – issues he quoted when announcing the acquisition on hold.

Read: Musk may lower the offer on Twitter, as Agrawal again addresses fears of spam

According to ReutersTwitter’s proxy statement [PDF], which outlines relevant details for shareholders to vote on the deal – and as provided to the US Securities and Exchange Commission – depicts Musk rushing to close the deal with his “best and final” offer. In April of this year, a power of attorney’s statement on Twitter claimed that Tesla’s CEO had negotiated a $ 44 billion deal without proper scrutiny.

“Mr Musk has not asked for a confidentiality agreement and has not asked Twitter for any non-public information about Twitter,” the statement said.

Musk has not yet ruled out the possibility of continuing the deal at a lower price, after saying it was possible at the Miami summit.

“It really depends on a lot of factors. I’m still waiting for some logical explanation for the number or type of fake or spam Twitter accounts. And Twitter refuses to tell us. That seems like a strange thing, “Musk said.

Twitter later said in a statement that it remained “committed to completing the transaction at the agreed price and terms as soon as possible.”

Meanwhile, the statement said Twitter’s chief executive, Parag Agraval, is entitled to a $ 60.2 million payment, and if the deal is completed, the company’s chief financial officer, Ned Segal, will receive $ 46.4 million, while Twitter’s attorney general will receive $ 46.4 million. Vijaya Gade will receive $ 30 million

Musk is also said to have said on Twitter that he is considering creating a competitor, according to the attorney’s statement.

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