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Post by Admin on May 15, 2022 18:17:25 GMT
Elon Musk’s tweeting may have landed him in legal trouble again. As you may recall, the Tesla and SpaceX executive tweeted on Friday that his deal to buy Twitter was “temporarily on hold” after the company disclosed that fake and spam accounts represented less than 5 percent of its monetizable daily active users during the first quarter of 2022. After his tweet prompted Twitter CEO Parag Agrawal to say the company was “prepared for all scenarios,” Musk stated his team would test “a random sample of 100 followers” to verify Twitter’s numbers. According to the billionaire, one of the answers he gave to a question about his methodology prompted a response from Twitter’s legal team. “I picked 100 as the sample size number, because that is what Twitter uses to calculate <5% fake/spam/duplicate,” he said in the alleged offending tweet. “Twitter legal just called to complain that I violated their NDA by revealing the bot check sample size is 100,” Musk later said of his actions.
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Post by Admin on Jun 6, 2022 17:58:52 GMT
Elon Musk Threatens To End Twitter Deal, Says Company Violated Acquisition Agreement 354 views Jun 7, 2022 Tesla CEO Elon Musk is threatening to walk away from his deal to buy Twitter, claiming that the social media company is withholding information about bot accounts. CNBC's Dominic Chu reports on why this could kill the $44 billion deal.
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Post by Admin on Jun 18, 2022 17:19:31 GMT
Here's what Elon Musk told Twitter employees 130,697 views Jun 17, 2022 FOX Business' Maria Bartiromo, Dagen McDowell and Fox News contributor Liz Peek discuss Elon Musk laying down ground rules in first meeting with Twitter employees.
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Post by Admin on Jun 21, 2022 18:49:50 GMT
"The Twitter Board, after considering various factors described in the section of this proxy statement captioned "The Merger— Recommendation of the Twitter Board and Reasons for the Merger," has unanimously: (1) determined that the merger agreement is advisable and the merger and the other transactions contemplated by the merger agreement are fair to, advisable and in the best interests of Twitter and its stockholders; and (2) adopted and approved the merger," the company said in a Securities and Exchange Commission filing on Tuesday.
TWTR TWITTER INC. 37.78 +0.42 +1.12%
The deal, which is currently expected to close in 2022, would take Twitter private at $54.20 per share.
The filing comes as Musk said in an interview Tuesday at the Qatar Economic Forum that shareholder approval was one of three "unresolved matters" that stands in the way of the deal.
In addition to shareholder approval, Musk said that debt financing for the deal would need to come together. The billionaire has pledged $33.5 billion in equity financing and has received commitments from Morgan Stanley Senior Funding Inc. and other financial institutions for up to $13 billion in debt financing.
He also said that he is waiting for a resolution to his dispute with Twitter over the total percentage of spam and fake accounts on the platform, which he called "a very significant matter." Though Twitter has maintained that spam and fake accounts make up less than 5% of its users, Musk believes the figure is at least 20%.
Earlier this month, Twitter reportedly agreed to hand over a "firehose" of data to Musk after he threatened to walk away from the deal. He claimed that the company breached its obligations under the merger agreement by 'actively resisting and thwarting' his right to information on the spam and fake account data.
Musk emphasized that he aspires to make Twitter an appealing system to use that is as inclusive as possible.
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Post by Admin on Dec 3, 2022 4:21:54 GMT
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