Twitter's account of deal shows Musk signing without asking for more information: Report

Twitter's proxy statement paints a picture of Musk in a rush to clinch a deal with his "best and final" offer

FPJ Web DeskUpdated: Tuesday, May 17, 2022, 11:30 PM IST
article-image
Elon Musk has secured $7.14 billion in funding from a group of investors that includes Oracle Corp co-founder Larry Ellison and Sequoia Capital to fund his $44 billion takeover of Twitter Inc, according to a filing on Thursday,/ Representative Image |

Twitter Inc published its account on Tuesday of its deal negotiations with Elon Musk, showing he opted out of asking the questions about the social media company's business he has now cited in declaring the $44 billion acquisition is "on hold", according to Reuters.

The account, published in Twitter's proxy statement that outlines what shareholders need to know to vote on the deal, paints a picture of Musk in a rush to clinch a deal with his "best and final" offer, the report said.

Musk negotiated the Twitter deal over the weekend of April 23 and April 24 without carrying out any due diligence, the proxy statement shows. Since signing the deal on April 25, Musk has questioned the accuracy of Twitter's public filings about spam accounts representing less than 5 percent of its user base, claiming they must be at least 20 percent. This is despite Twitter stating in its filings that the numbers could be higher than it estimates, the report said.

(With inputs from Reuters)

(To receive our E-paper on whatsapp daily, please click here. To receive it on Telegram, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

RECENT STORIES

Maharashtra Assembly: NCP's Ajit Pawar elected as Leader of opposition

Maharashtra Assembly: NCP's Ajit Pawar elected as Leader of opposition

Maharashtra: Congress high command unhappy over absence of 11 MLAs during trust vote

Maharashtra: Congress high command unhappy over absence of 11 MLAs during trust vote

‘It’s the ED govt’: Devendra Fadnavis adopts oppn jibe as Eknath Shinde comfortably wins trust...

‘It’s the ED govt’: Devendra Fadnavis adopts oppn jibe as Eknath Shinde comfortably wins trust...

This Palghar village takes lead, forbids widowhood rituals

This Palghar village takes lead, forbids widowhood rituals

Panvel: Police impose section 144 near waterfalls, put up notices board

Panvel: Police impose section 144 near waterfalls, put up notices board