Elon Musk cited bots when he declared the $44bn takeover of Twitter “temporarily on hold”, but not everyone is buying that explanation.
The world’s richest man on Friday tweeted that he was pausing his bid as he awaited further information to confirm whether the social media company’s quarterly estimates of its fake accounts were accurate, sending Twitter shares falling and raising questions about what, exactly, Musk meant.
Indeed, agreed transactions cannot be legally put on hold. Twitter’s lawyers are still working with Musk’s team to complete the deal, said one person familiar with the situation. The billionaire himself said he was still “committed to the acquisition”.
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