Pete Pachal, head of staff at CoinDesk for the content team, provides information on Elon Musk’s Tesla hiring plans.
Elon Musk’s bid to buy Twitter has been put on hold due to concerns about his ability to organize new funding that would limit his cash contribution to the $ 44 billion acquisition amid his threats to ‘move away from the deal, according to media reports.
The CEO of SpaceX and Tesla has threatened to withdraw from the deal because of Twitter’s alleged refusal to provide information about spam bots and fake accounts on the social media platform.
In a letter to Twitter on Monday, Musk’s lawyers wrote that they had repeatedly asked for the information since May 9, about a month after their offer to buy the company, so that it could assess how many of the 229 million accounts of the company are fake.
Musk has long focused on the problem of the Twitter bot as a reflection of the true value of the platform. It has more than 97 million followers.
ELON MUSK FEUD WITH BILL BULL CATS ON TWITTER
Elon Musk’s tweet is shown on a screen and the Twitter logo. The CEO of Tesla has been critical of Twitter as it tries to increase its influence on the social media platform and new funding to buy the site has been threatened. (Jakub Porzycki / NurPhoto via Getty Images / Getty Images)
Twitter said Monday in a statement that it has been sharing information cooperatively with Musk “in accordance with the terms of the merger agreement” and noted that the agreement is “in the best interests of all shareholders.”
“We intend to close the deal and enforce the merger agreement at the agreed price and conditions,” he added.
Musk is yet to pay $ 33.5 billion to finance the deal, Reuters reported. He has been in talks to raise $ 2 billion to $ 3 billion in preferred equity financing from a group of privately held companies to fund the purchase of Twitter.
A source told the media that these discussions are pending until there is more clarity about the future of the purchase.
A Twitter spokesman told Fox Business that the company had no comment. Fox Business also contacted Apollo Global Management, the company the group of capital companies involved in financing the deal.
Pete Pachal, head of staff at CoinDesk for the content team, provides information on Elon Musk’s Tesla hiring plans.
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The Associated Press contributed to this report.