Elon Musk tweeted that his $44 billion Twitter deal was temporarily suspended as he awaits data on fake accounts, sending shares of the social media platform into a tailspin.
But the Tesla CEO added that he remains committed to the acquisition.
He had decided to forgo due diligence when he agreed to buy Twitter on April 25 in a bid to get the San Francisco-based company to accept his “best and final offer.”
Since then, tech stocks have slumped on investor worries about inflation and a possible economic slowdown.
The gap between the offer price and the value of Twitter stock had widened in recent days, implying less than a 50% chance of closing.
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