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Twitter CEO Parag Agrawal sought to project calm on Friday following another tumultuous day at the social media company. The culprit, as usual: Elon Musk, who had declared that morning that he was temporarily suspending his $44 billion takeover bid while he examined the exact percentage of Twitter’s users composed of fake or spam accounts.
Musk later insisted that he was “still committed” to the buyout, but investors were nonetheless unnerved, sending Twitter’s stock cratering 10 percent by Friday afternoon.
In typical Musk form, the billionaire sidestepped corporate best practices by making the statements via tweet, rather than submitting an official securities filing.
at The Daily Beast.
Source:: The Daily Beast
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