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)
