Twitter board wants to keep Elon Musk’s $44 billion offer

The Twitter board plans to hold Elon Musk to his $44 billion takeover offer and does not want to renegotiate. Musk won’t let the deal go through if Twitter doesn’t come up with more evidence about the number of fake accounts.

The Twitter board has in a statement Responded to Musk’s statements earlier this week to Bloomberg, in which the Tesla CEO says he is putting the deal on hold. The board says it wants to “go through the acquisition and enforce the agreement”.

Musk first wants to see evidence about the percentage of fake accounts on the platform. Twitter previously indicated that this is lower than five percent, but Musk is questioning this. He wants Twitter to provide evidence that this is less than five percent. If Twitter can’t prove this, Musk wants to renegotiate the deal.

The deal for the acquisition has been recognized by Bloomberg and includes a $1 billion fine if either party fails to fulfill its part of the deal. It also states that the board of Twitter can force Musk to go through with the deal.