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Elon Musk says he may try to renegotiate the $ 44 billion Twitter deal at a lower cost

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San Francisco’s Elon Musk said he could ask for a lower price on Twitter shortly after tweeting at a meeting on Monday that a $ 44 billion bid on the site was temporarily suspended.

At a private session at the All-In-Summit in Miami, at a meeting with technology founders and media personalities, Musk said Twitter deals were low-priced and not out of the question. Comments were first reported by Bloomberg.

Kevin Pafras, a financial analyst and YouTuber by Meet Kevin who attended the conference, said Mask was asked if it would be a perfectly good deal at another price.

That’s not out of the question, he said, according to Pafras, who said he took notes at the same time. The more questions I ask, the greater my concern.

Mask did not immediately respond to the request for comment.

Musks’ comments show that they continue to stay away from the first $ 44 billion transaction to buy the website announced on Monday, April 25th. Analysts and some advisors suggest that Musk’s focus on this issue is just an excuse to cancel the deal, but it’s a scam.

Since Musk’s interest in Twitter was announced, Tesla’s share price has fallen sharply, resulting in a major blow to Musk’s net worth. Much of Musk’s financing for transactions relies on Musk’s ability to use Tesla shares as collateral, as well as using real estate to back up loans. Recently, the downturn in tech stocks has led Musk to look for additional investors to lower its equity commitments in trading. This is because Musk promised $ 21 billion in net worth, largely detained by Tesla shares to buy the site.

Elon Musk says Twitter deals are pending and are bidding on volatile conditions

Twitter’s share price plummeted in response to Musks’ comments, closing at $ 37.39 on Monday, well below $ 54.20 per Musks share. The deal was expected to close later this year, before Musk tweeted on Friday. [Twitters] Calculation that spam / fake accounts actually represent less than 5% of users.

Musk shows that he believes that spam accounts occupy a significant share of Twitter users. On Monday, he responded with a Pile of Poo emblem to a Twitter thread from social media site CEO Parag Agrawal, trying to explain how to count bots.

Musk may not be able to cancel the transaction due to a Twitter bot issue

Musk outlined concerns about Twitter bots when prompted about the possibility of seeking lower prices. He likened the problem to buying a termite problematic home. He said the value of the house would be lower if it was found to be mostly composed of termites compared to a house that had only small termite problems.

On the surface, Mask outlined complaints about not being able to get what he considered the correct answer from Twitter.

It was clear that the mask was laying the foundation for Pafras, who was in the audience. [had] We have started renegotiation.

@Elonmusk, who talks about bot issues on Twitter, says that 5% termites might be like buying a house, but in reality 90% of termites are the company coming with him. #Allinsummit pic.twitter.com/ dQxhRnUMJq

— Josiah Daniel Ryan (@JosiahRyan) May 16, 2022

Musks’ comments at the technical meeting on Monday raised questions about whether the deal would close.

Dan Ives, an analyst at Wedbush Securities, believes that the streets allocate more than 50% of the musk’s walking potential at this circus show. [We] $ 44 Billion Twitter Transactions Consider Less Than 50% [likelihood] If the deal modified to be accomplished as of today is accomplished by Mask and Twitter, it will probably be at a lower price.

Meanwhile, Twitter issued a new corporate filing late Monday, answering questions about whether there are layoffs or whether content moderation practices will change. However, this document gave little answer, other than saying that the company’s practices would continue as before for the foreseeable future. As always, the phrase business is repeated nine times in the filing.

Elizabeth Dwoskin contributed to this report.

Sources

1/ https://Google.com/

2/ https://www.washingtonpost.com/technology/2022/05/16/musk-twitter-deal/

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