Twitter says it's committed to agreed price in deal with Elon Musk
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Twitter (NYSE:TWTR) says it is "committed to completing the transaction on the agreed price and terms as promptly as practicable."
The company said in a statement Tuesday "that it has filed its preliminary proxy statement with the U.S. Securities and Exchange Commission in connection with the previously announced agreement for Twitter to be acquired by affiliates of Elon Musk for $54.20 per share in cash."
"The preliminary proxy statement contains important information including the background of, and reasons for, Twitter's transaction with Mr. Musk."
Twitter (TWTR) is down 2.5% in premarket trading, but off lows before the company statement came out.
Musk has said his $44B deal for the platform cannot move forward until he has more clarity on how many accounts are fake. The company has said in SEC filing that fake, bot or spam accounts are less than 5% of monetizable daily active users. The Tesla (TSLA) founder puts the number much higher, at 20% or more.
Musk has said the deal could possibly move forward at a lower price.
Musk replied early hours Tuesday to some more tweets about his concerns about the number of fake accounts on Twitter (TWTR).
"Seems like Twitter should welcome external validation if their claims are true," Musk said this morning.
A user pointed out that Musk's joke tweet about buying Coca-Cola to put the cocaine back in was "the most liked tweet of all time, which is only liked/interacted by 2-2.5% of the entire Twitter user base, there's a high possibility that the number of fake/spam/bot accounts could be well over 50%."
Musk replied: "Exactly."
Read more on Musk's latest moves after agreeing to buy Twitter.