Twitter shares plummet as row over Musk's $44bn takeover escalates
Evening Standard|July 11, 2022
TWITTER shares were heading for a dramatic fall today as the social media giant fought with Tesla founder Elon Musk over a $44 billion takeover deal.
Simon English and Simon Hunt
Twitter shares plummet as row over Musk's $44bn takeover escalates

Musk wants out, claiming Twitter has not been clear about how many of its accounts are "bots" - spam accounts.

Twitter has hired hotshot New York legal firm Wachtell, Lipton, Rosen & Katz to hold him to the original terms of his offer a $54.20 a share deal.

With uncertainty clouding the business, Twitter shares were down 8% today in pre-market trading to $34, dramatically below the value of the bid.

The stock is down 30% since Musk unveiled his bid earlier this year. They have halved in the last year and some analysts predict they could halve again.

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