Twitter still plans to ‘enforce the merger agreement’ with Elon Musk – New York Daily News

Twitter won’t accept any new price tag floated by billionaire Elon Musk, who in recent days hinted at his plans to take over the company for less than the $44 billion on offer.

Last month, the social media company revealed that it had agreed to sell to Musk for $54.20 per share, making him the new owner of the platform, pending regulatory approval from shareholders. In a statement to The New York Times on Tuesday, Twitter said it still plans to “close the transaction and implement the merger agreement” despite any further involvement made by the SpaceX founder.

“We believe this agreement is in the best interests of all shareholders,” the company said. “We intend to complete the transaction and enforce the merger agreement.”

Twitter’s recent statement came the same day the board urged shareholders in a regulatory filing to vote in favor of the deal.

Musk took to the social media platform on Friday to announce that his takeover of Twitter would be put on hold until CEO Parag Agrawal publicly proves that less than 5% of users are bots or spam accounts. At a tech conference in Miami over the weekend, the 50-year-old billionaire doubled down and suggested fake accounts could account for up to 20% of the platform’s regular users.

Agrawal, who also attended the same conference, dismissed speculation that Twitter would sell at a lower price. He also attempted to explain the tabulation difficulties of Twitter bots, but maintained that the 5% is, at the very least, close to accurate.

The CEO also noted that the company cannot publicly disclose specific details of the process because it relies in part on information from private users.

“We shared an overview of the estimation process with Elon a week ago and look forward to continuing the conversation with him and all of you,” Agrawal tweeted.

The series of tweets was enough to trigger Musk, who in one instance tweeted a poop emoji at Agrawal.

“My offer was based on the accuracy of Twitter’s SEC filings,” Musk said in a tweet the next day. “Yesterday, the CEO of Twitter publicly refused to show

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