The Washington Post has reported that Elon Musk's $44bn deal to buy Twitter is in danger. Musk had previously expressed concern over spam accounts on the social media platform. But, according to the Post, despite being given access to internal data, he still hasn't been able to confirm the percentage of fake accounts.
The latest report cites an anonymous source saying that Musk's team is preparing for a "change in direction." TWTR.us shares dropped 4% on the news in after-market trade. Musk will be required to pay a $1bn breakup fee if he walks away.
Senior Market Specialist
Russell Shor joined FXCM in October 2017 as a Senior Market Specialist. He is a certified FMVA® and has an Honours Degree in Economics from the University of South Africa. Russell is a full member of the Society of Technical Analysts in the United Kingdom. With over 20 years of financial markets experience, his analysis is of a high standard and quality.