Twitter share price

Elon Musk wan end im $44bn (£36bn) offer to buy Twitter, im dey allege breach of di agreement.

For im filing, oga Musk say dem refuse to give am informate about di number of bot accounts on Twitter – dat na why im wan terminate di deal. "...and sometimes dem dey claim to comply to givie oga Musk informate wey no dey complete or informate wey e no fit use," di letter tok. Na for May, Oga Musk bin tok say di deal dey "temporarily on hold" onto say e dey wait for data on di number of fake and spam accounts on Twitter. "Sometimes Twitter dey ignore oga Musk requests, sometimes e dey reject dem for reasons wey dey unjustified... "Twitter Board dey committed to close di transaction for di price and terms wey Oga Musk bin agree," Twitter chairman Bret Taylor write for tweet. Musk say im dey back out because Twitter fail to provide enough information on di number of spam and fake accounts.

An analyst says that Elon Musk's revelation he wants out of his Twitter acquisition is a disaster scenario for the company that could torpedo its share ...

Mechanical keyboards give you that satisfying sound and feel, but most of the best ones lack a number pad. - Dan Ives believes this could cut its share price by a third and see employees heading for the door. Musk's main objection to closing the deal is Twitter's figures about spam and fake accounts on its platform.

Elon Musk may be trying to 'drive down' the cost of Twitter by stepping back from his agreement to buy it.

Ann Lipton, a professor of corporate governance at Tulane Law School, told the Daily Mail: ‘At least based on public reporting, his position is quite weak, legally. He later clarified he was ‘still committed to the acquisition’ but that uncertainty surrounding he deal was proving difficult to dispel. Elon Musk may be trying to ‘drive down’ the cost of Twitter by stepping back from his agreement to buy it.

Elon Musk's deal to buy Twitter has been holding back the electric car maker's stock, according to Wedbush analyst Dan Ives.

However, they are still 14% higher than in July last year and it remains the world's most valuable car maker by far. The deal has clearly weighed on Tesla's share price, and therefore Musk's net worth . The world's richest man has lost $65 billion since he decided to acquire the company, Insider reported, while the car maker has lost about a quarter of its value since the deal was announced on April 25. "For Tesla's stock this will be some relief rally as this situation was an overhang on the stock, but the Street is wary of the looming court battle ahead between Musk and the Twitter board," Ives said.

The microblogging site is ready to take the billionaire to court in what could be a long drawn-out legal battle.

Analysts had already expressed scepticism on Mr Musk's ability to pull the bid. Accordingly, Mr Musk hereby exercises X Holdings I, Inc’s right to terminate the Merger Agreement and abandon the transaction contemplated thereby." And this thing is so messy that it might not be worth it," said Adam Badawi, a law professor at UC Berkeley. We are confident we will prevail in the Delaware Court of Chancery," it said. With the employee turnover, it’s going to be viewed as damaged goods from another potential buyer." It has lost almost 20 per cent since Mr Musk announced his takeover bid.

Elon Musk's effort to dump his agreement to buy Twitter Inc. leaves the social media service worse off, no matter the outcome.

Musk will try to prove Twitter violated their merger agreement, and Twitter will fight to show it fulfilled its obligations. And while ad revenue is still growing marginally, Twitter is now dealing with a slowing economy that could squeeze ad spending on all social platforms.” Those feelings were directed toward Musk when employees thought he still wanted to buy the company. In weeks before the Q&A, still others fretted that Musk had no idea how to run a social network, and some posted their frustration about claims alleging Musk had sexually harassed former employees at his rocket company SpaceX. After Twitter leadership failed to acknowledge the allegations, one employee wrote that “as a woman working at Twitter, I find this radio silence extremely disheartening.” If Twitter prevails in court, the company will be run by an unpredictable and reluctant owner, while still struggling to meet ambitious growth targets. During a Q&A he held with Twitter employees in June, some workers mocked Musk over internal Slack channels as he told employees that only those who were “exceptional” would be allowed to continue working from home.

Twitter Inc. shares dropped late on Friday after Elon Musk said he's terminating the $44 billion agreement to acquire the social media company.

Twitter shares had fallen 15% this year as of Friday’s closing price, compared with a drop of 26% for the Nasdaq 100. The news sent shares of Tesla Inc., the electric car maker that Musk leads, up as much as 3% while social media peers Snap Inc. and “Any competing bid from private equity would be at least 15-20% lower than Musk’s $44 billion offer.”

Here is a timeline of how the deal has unfolded: April 4th – A filing to the US Securities and Exchange Commission (SEC) shows Mr Musk bought up just over 9% of ...

May 17th – Mr Musk says the deal “cannot move forward” until he gets “proof” that bots are only 5% of spam accounts on the platform. But Mr Musk and Twitter enter into negotiations over a deal. In response, the chair of Twitter’s board, Bret Taylor, said it is “committed” to closing the transaction on the price and terms agreed upon with Mr Musk and plans to pursue legal action to enforce the merger agreement.