Elon Musk has stated that he will proceed with the Twitter acquisition deal if the social media platform is able to fulfill one condition. According to Musk, he will proceed with the deal if Twitter is able to provide the method of how it confirms that the accounts are real or not

Elon Musk Demands 100 Samples

He has demanded to see 100 samples of the accounts to see if the method is efficient and effective. According to him, he will not proceed with the deal until the condition is fulfilled.

The history behind the Demand

Initially, Elon Musk had agreed to pay $44 billion to proceed with the acquisition of Twitter. Just when things were going well, Elon Musk demanded to know about the total percentage of bot accounts on Twitter.

The matter stayed on for a very long time and it even ended up with an exchange of sarcastic words between Elon Musk and Parag Agarwal (Twitter CEO).

Now, Elon Musk wants to know exactly how Twitter verifies if the Twitter profiles/accounts are authentic/real or not.

As per Elon Musk, the deal will not proceed between him and Twitter unless the condition is fulfilled. He stated

Musk claimed that if the SEC confirms that Twitter had provided wrong information in the filing, then he will back out from the deal.

Role of the US SEC

Many people are enquiring about the filing submitted by Twitter at the US SEC. They want to know what the status of the matter is at the US SEC.

According to Elon Musk, it is still a question of whether the US SEC is probing the matter or not. He stated that the US SEC has to run their investigation in the matter and get to the bottom to see if Twitter has made dubious claims or not.

Twitter’s Hesitation

When asked for a comment, Twitter declined to make any comments on the matter. It raises a concern that Twitter may have information surrounding the authenticity of the accounts that it may be hiding.

Twitter Dismissed Claims made by Musk

On Thursday, Twitter made a public statement where it went ahead and dismissed the claims Elon Musk had made in regards to the real accounts.

The one claim they dismissed was where he claimed that he had been deceived into signing up for the deal.

For now, the matter is with the US SEC and they may clear out any confusion and concerns that both parties may have.

Twitter’s stock has moved upwards by 3.56% in the recent stock trading session. If the US SEC confirms that Twitter was indeed involved in providing them with wrong information, then its shares may dip.

No Comments.