Washington DC, 13/5: Elon Musk on Friday put his $44-billion deal for Twitter Inc temporarily on hold, citing pending details in support of calculation that spam and fake accounts indeed represent less than 5 per cent of users.
Shares of the social media company fell 17.7 per cent to $37.10 in premarket trading, their lowest level since Musk disclosed his stake in the company in early April and subsequently made a “best and final” offer to take it private for $54.20 per share.
The implied probability of the deal closing at the agreed price fell below 50 per cent for the first time on Tuesday, when Twitter shares dropped below $46.75.
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