Elon Musk is said to have sent another offer letter to buy Twitter at $54.20 per share ($1,083.68 Mexican pesos), the day before attempting to pull out of the deal, based on anonymous sources.
Twitter Stock Trading.
Musk and Twitter have been fighting for months over the acquisition of the social network. After offering to buy the company, Musk attempted to cancel the deal, claiming that Twitter had lied about the number of bot accounts on the platform. Twitter sued Musk to try to make him honor the contract he negotiated, and a trial date was set for October 17.
“This is a clear sign that Musk recognized, as the Delaware trial looms, that the chances of winning against Twitter’s board were highly unlikely and that this $44 billion deal was going to go through one way or the other.” another,” Wedbush analyst Dan Ives wrote in a note following the news.
Last week, a series of text messages were published in court documents. Messages stood out for what wasn’t in them: any discussion of bot concerns. Instead, what seemed to have caused Musk to lose interest was a conflict with Twitter CEO Parag Agrawal, who had him .
Also, Musk’s argument that Twitter gave him the wrong data took a serious hit. He had hired some companies to do an analysis of the numbers of the Twitter bots. One company confirmed the figures from Twitter; the other suggested that 11% of Twitter users were not authentic… but that analysis was not statistically robust .
It got worse for Musk in that hearing, as he is a known supporter of Signal, a privacy-focused messaging app that allows users’ messages to be automatically deleted. That’s a problem when you’re supposed to keep messages for a lawsuit. It is not clear how many relevant messages may have been destroyed. Twitter has asked the judge in this case to censor Musk for those missing messages.