Musk reportedly says Twitter deal at lower price ‘not out of the question’

Technology

In this article

Tesla Inc CEO Elon Musk attends the World Artificial Intelligence Conference (WAIC) in Shanghai, China August 29, 2019.
Aly Song | Reuters

Elon Musk hinted that he could seek to renegotiate the price of his Twitter takeover, saying a deal at a lower price wasn’t “out of the question,” Bloomberg reported Monday.

Musk reportedly made the comments while speaking at a summit hosted by Chamath Palihapitiya, Jason Calacanis, David Sacks and David Friedberg for their “All-In” podcast.

The stock closed down more than 8% as investors fear Musk will walk back on his agreement to acquire the social media company for $44 billion.

Twitter shares have also erased all gains made since Musk disclosed his investment in the company on April 4, in part thanks to a sell-off late last week. Musk said Friday that the acquisition was “on hold” while he researches the proportion of fake and spam accounts on the platform, which he believes Twitter has misstated.

Musk on Monday estimated that fake users make up at least 20% of all users, according to the Bloomberg report. Twitter, meanwhile, has said the accounts made up fewer than 5% of its monetizable daily active users in the past quarter.

Read the full story from Bloomberg here.

Products You May Like

Articles You May Like

Frozen Empire Opens With $62M Global, Dune 2 Nears $600M
Stunning Dungeons and Dragons Art
ISRO, NASA to Launch Joint Mission to International Space Station After India Signs Artemis Accords
Russia arrests suspected gunmen as concert toll rises to 93
NBC News Drops Ronna McDaniel After Rachel Maddow Speaks Out