Elon Musk Suspends Plan To Buy Twitter, This Is Why All Pages

KOMPAS.com – Acquisition Twitter oleh CEO SpaceX, Elon Musk decided to be temporarily postponed. Through his Twitter account with the handle @elonmusk, the world’s richest man said he was waiting for Twitter to provide data regarding the number of fake accounts.

However, Musk is committed to continuing to buy full Twitter shares in the future.

“Deal (with) Twitter is temporarily suspended, (because) the details of calculating spam/fake accounts are less representative of 5 percent of users,” Musk said on Twitter.

Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of usershttps://t.co/Y2t0QMuuyn

— Elon Musk (@elonmusk) May 13, 2022

Twitter shares plunged more than 20 percent after Musk said he was delaying the acquisition of Twitter. But after he posted a second tweet related to his commitment, Twitter shares were crawling again.

Read also: Elon Musk Wants to Unblock Donald Trump’s Twitter Account

To reveal the data needed, Musk said his team would take a random sample of 100 Twitter followers. “If we work together to figure out the percentage of bots/duplicating the percentage of users, we might be able to get a good answer,” Musk said.

One netizen asked why Musk didn’t ask the number of spam users before the company’s acquisition. Musk then replied that he “relys on the accuracy of Twitter’s public submissions”.

Under the terms, Musk has the right to request data from Twitter about his operations after signing the deal. For Musk, this will help him establish ownership of Twitter.

However, this practice is not part of due diligence or reopening the negotiation process, as summarized by KompasTekno from Reuters, Saturday (14/5/2022).

Elon Musk officially bought Twitter at a price of 44 billion US dollars or around Rp. 634 trillion, Tuesday (26/4/2022). After Twitter was bought by Elon Musk, Twitter will become a private company, no longer a public company that is listed on the US stock exchange.

Read also: Bill Gates: Elon Musk will make Twitter worse

Shareholders will receive $54.20 in cash for each Twitter share they own.

The figure matches Musk’s offer and represents 38 percent of the premium to Twitter’s closing stock price on April 1, the last trading day before Musk disclosed his stake on Twitter earlier this month.

“Twitter Board undertook a thoughtful and comprehensive process to assess Elon’s submissions focused on value, certainty and financing,” said Twitter Board, Bret Taylor, summarized from NBC News.

“The proposed transaction will provide a substantial cash premium and we believe this is the best way forward for Twitter shareholders.”

Meanwhile, Musk said that Twitter has tremendous potential. He hopes to work with his new company and Twitter users.

“Freedom of speech is the foundation of the functioning of democracy, Twitter is the center of the digital city, where things that are important to the future of humanity are debated here,” said Musk, who is fairly active on the microblogging platform.

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