The price of Twitter rose as much as 3% on May 19 after company executives reportedly told employees that a deal to sell the firm to billionaire Ilan Mask for $ 44 billion remains on the way and that the agreed price of $ 54.20 per share will remain. do not reconsider.

This is despite Mask’s recent tweets showing that he has put the purchase “on hold” by estimating the number of bot accounts on the site.

According to Twitter, about 5% of his accounts are fake Musk it is estimated that this percentage is approaching 20%.

However, according to Bloomberg, Twitter’s chief lawyer, Vijay Gadde, informed staff during the meeting that “there is no such thing as a content deal.”

Other top Twitter executives, including CEO Parag Agraval and CFO Ned Seagal, also spoke to staff.

After Twitter presented this week a power of attorney statement to the Securities and Exchange Commission explaining the history and terms of the deal, a video link across the company was developed for management to discuss the acquisition and provide more information.

Several concerns about the deal have been resolved by executives, including if Twitter tries to legally force Mask to buy the firm under his agreement.

Gade assured the staff of this Musk has to “do everything possible” to bring order to funding, and that Twitter may try to “fulfill” the terms of the agreement if it ever needs to be done in court, but getting to that point will be “quite rare”.

However, given that Tesla’s market value has fallen sharply by more than $ 400 billion due to the market downturn, Musk may wish to lower the purchase price. It intends to use more than $ 10 billion of its Tesla shares as collateral to secure funding for the purchase of Twitter.

It should be understood that Musk would have owed Twitter $ 1 billion for the cost of the break if he had abandoned the deal, which would have been difficult because he signed the contract.

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The CEO of Tesla could have tried to avoid paying the separation fee by claiming that Twitter had more bots than previously claimed.

But the microblogging platform seems adamant that Musk will buy the company at an agreed price.

Although Twitter is still committed to the deal, the stock market doesn’t believe it will happen because of the big difference between the agreed purchase price and the current Twitter share price.

On May 19, the shares were 30% lower than the sale price of $ 54.20.

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