May 16, 2022

Elon Musk’s Twitter Purchase ‘On Hold’

By T. Thompson In Latest News with Comments Off on Elon Musk’s Twitter Purchase ‘On Hold’

Elon Musk announced that his Twitter purchase is “temporarily on hold,” sending shares plummeting more than 10%.

“Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users,” Musk tweeted, adding that he’s “still committed to acquisition.”

Late last month, the social media platform’s board had accepted Musk’s offer to take Twitter private at $54.20 per share.

Earlier this month, Twitter estimated that spam accounts represented fewer than 5% of its daily active users.


Elon Musk says Twitter deal is ‘on hold’

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