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Elon Musk tweeted this morning that the Twitter takeover deal is on hold. He said that he is still committed to the acquisition, however, just underneath that.
It’s hard to tell yet if he is getting less interested in buying the company, or if this is a ploy to snag it for less money.
“Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users
Still committed to acquisition”
Still committed to acquisition
— Elon Musk (@elonmusk) May 13, 2022
Shortly after the initial deal for Musk to buy Twitter was made, many people asked Musk to unblock their accounts and that of former President Donald Trump. Of course just because they accepted his deal over at Twitter headquarters, didn’t mean he was in charge yet.
Now it is unclear what the future will hold. Twitter fired two top executives yesterday before Musk’s announcement of the “hold” as well, adding to the turmoil. Twitter stock TWTR is down about 10% on the day as of this writing. We will stay tuned to see what happens next.
It is possible this has something to do with FTC and other government investigations and “powers that be” who don’t want Musk taking over and allowing free speech. However, we can’t speculate until we get more details and as with many of these big stories, we may never know all the things happening behind the scenes.