Elon Musk says Twitter deal can’t happen until dispute with bot is resolved
“My offer was based on the accuracy of Twitter’s SEC filings,” Musk tweeted. “Yesterday the CEO of Twitter publicly refused to show proof of
Shares of Twitter were down 1.7% in premarket trading on Tuesday. The stock erased all of its gains in the weeks after Musk revealed his stake in the company and now trades at $36.80 per share, well below Musk’s offer price of 54.20. $ per share.
“Twitter is committed to completing the transaction at the agreed price and terms as quickly as possible,” the company said in a statement Tuesday.
“The bot problem at the end of the day … seems to us more like the ‘dog ate the homework’ excuse to bail out the Twitter deal or talk about a lower price,” Dan Ives and John Katsingris, analysts at Wedbush Securities , wrote in a note on Monday.
In his Twitter thread, Agrawal said most spam campaigns on Twitter use a combination of humans and automation, rather than being primarily bot-driven. Analyzing legitimate and fake accounts can be complicated, he said.
“We shared an overview of the estimation process with Elon a week ago and we look forward to continuing the conversation with him and all of you,” he added.