Elon Musk repackages his takeover offer, Twitter goes to court

Elon Musk repackages his takeover offer, Twitter goes to court

Elon Musk retreats. In a letter published Friday evening by the American financial regulatory authority, the billionaire indicated his refusal to pursue the takeover of Twitter. Convinced of having been deceived by the leaders of the company on several “points of the agreement”, including the number of “false accounts” on the platform, Elon Musk repackages his offer to 44 billion dollars. For any justification, Elon Musk’s lawyers invoke the “false and misleading information” issued by Twitter during their exchanges.

But will that be enough to extinguish the deal of the century, the takeover of Twitter? The presence of fake accounts on the platform is not really a surprise and has been the subject of public communication for several years. In May 2018, Yoel Roth, the integrity officer of Twitter, had already established at 9.9 million the number of potentially fraudulent users in a blog post. Fraud represented, therefore, more than 8% of active accounts out of 112 million subscribers at the time. Elon Musk demands to be able to verify this information; failing which, he refuses to go further.


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