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Originally Posted by Mick
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Elon Musk said on Friday he was terminating his $44 billion deal for Twitter Inc (TWTR.N), saying that the social media company had failed to provide information about fake accounts on the platform.
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Originally Posted by Pierre
If it turns out a large % of accounts are fake bots, that then devalues the company. Musk can walk away from the deal and the shareholders can sue the board.
Job done.
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They probably won’t, but it may force shareholders to investigate the actual worth of the company and how it’s being run.
They’ve just missed out on a payday. Twitter is not particularly profitable as a company. Shareholders may decide to change things to make it more saleable.
Either way, Musk has started something.