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USD 44 billion worth of deals on offer Elon Musk to buy Twitter suddenly cancelled. What’s the real reason behind Elon Musk’s resignation from controlling Twitter?
It has been mentioned that Elon Musk is disappointed because Twitter seems not to be transparent in disclosing the number of spam accounts or bots that are spreading on its service. However, there could be other reasons that the South African-born man gave up.
“Elon Musk has agreed on paper to this deal and it is not clear if at this stage he can back down. Musk must prove that Twitter has violated their agreement,” writes BBC technology columnist James Clayton. detikINET.
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“There’s another potential reason why Musk wants to walk away from the deal. The stock markets of major tech companies have fallen drastically in recent months, is Musk offering too much money?” he explained.
“And then there’s the effect this merger has on the company owned by Elon Musk another. Tesla’s share price has dropped significantly since he announced his interest in Twitter,” he added.
In other words, Musk may want Twitter to lower the acquisition price to below $44 billion as its valuation drops further. Then, maybe he feels he can’t manage many companies, so he prioritizes existing ones like Tesla. Tesla’s own share price began to rise as soon as there was news of Elon Musk’s cancellation of buying Twitter.
Twitter itself will certainly sue Elon Musk to court demanding that he comply with the acquisition agreement. We’ll see how it develops later.
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(fyk / agt)
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