Musk Suspends Acquisition of Twitter as SEC also Steps in Investigation

On May 12, the Dow Jones index continued to fall, and Twitter’s stock price has fallen by nearly 13% since late April, closing at $45.08 a share, far below the $54.2 Musk proposed purchase price on April 27th.

On May 13, Musk said that his $44 billion acquisition deal with Twitter was on hold, citing unsettled details related to spam and fake accounts.

Previously, some U.S. media released that the SEC suspected that Musk’s delayed announcement indirectly caused Twitter’s stock price to fail to rise further as Musk did not seem to disclose this fact within 10 days of taking 5% stake in this company. Ultimately, this will eventually lead to an underpriced low acquisition. As a result, the SEC is intensifying its investigation into whether Musk has committed any violations in the acquisition of Twitter.

Miles Guo revealed in his previous grand live broadcast that Mr. Musk’s acquisition of Twitter was an unfinished deal. Musk pressed the pause button on the acquisition, once again confirmed his intelligence information.

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