Elon Musk did not ask anything about business while signing, says Twitter over ‘on hold’ deal

Edited By: Gandharv Walia
New York   Updated: May 18, 2022, 01:08 AM(IST)

Billionaire Elon Musk did not ask anything about business while signing deal, said Twitter (file photo). Photograph:( Reuters )

Story highlights

Since the finalisation of the deal, the billionaire has been raising doubts over the accuracy of Twitter's public filings with regard to spam accounts. The social media firm has said that spam accounts on the platform can be around 5% of its total user base. While the billionaire claims it to be at least 20%

In a proxy statement, Twitter Inc has shared its account over the negotiations of the deal with Tesla CEO Elon Musk on Tuesday, said media reports. It reveals that the billionaire had not asked anything about the business of the social media company. Musk had recently declared that the $44 billion acquisition of the social microblogging site is "on hold." On the weekend of April 23 and April 24, SpaceX CEO negotiated the deal with Twitter without carrying out any due diligence, the statement said.  

The proxy statement shows Musk seemed to be in a rush to finalise the deal with his "best and final" offer.  

Since the finalisation of the deal, the billionaire has been raising doubts over the accuracy of Twitter's public filings with regard to spam accounts.  

Also Read: $44 billion Twitter purchase will not go ahead without clarity on fake, spam accounts: Elon Musk

The social media firm has said that spam accounts on the platform can be around 5% of its total user base. While the billionaire claims it to be at least 20%.   

In its filings, Twitter has also said that the numbers may be higher than its estimates. Around 9% to 15% of Twitter profiles are bots, project independent researchers.   

Watch: The battle over Bots: Is Elon Musk trying to renegotiate the $44 billion Twitter offer?

In proxy statement, Twitter said, "Mr Musk did not ask to enter into a confidentiality agreement or seek from Twitter any non-public info regarding Twitter."   

The statement, however, did not make any mention of Musk’s threats of not going ahead with the deal.  

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(With inputs from agencies) 

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