What’s Happening regarding Twitter – Musk Deal?

Twitter acquisition by Elon Musk’s Telsa company has been put on hold by Musk as he wanted a consolidated report about the total spam accounts on Twitter. While the social networking website provided them with the data that only 5% of the total accounts are spam or bots, Musk doesn’t agree.

He asked people on Twitter to take a sample of 100 followers and see how many of them are fake, spam or bot accounts. He said that his company will conduct the comprehensive survey and upon satisfactory results, he will continue with the deal. While he tweeted that he is committed to acquisition that costs his company 44 Billion USD, Twitter CEO Parag Agarwal said that the company is ready to face any kind of situation.

Parag Agarwal supported the company cost cutting measures to fire two senior executives and said that the E-commerce business is undergoing lot of turmoil. He further stated that Twitter is hoping that the deal with Musk will go through but they are ready for any kind of situation.

When asked why should the company go for cost cutting measures in between the acquisition process, he said that the company cannot operate in hope of deal going through and normal kind of operations should continue that are important for company’s future.

For now, the multi-billion deal is on hold but the USA markets want the deal to go through so that the Twitter stocks will be on rise in coming days.

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