Elon Musk sowed new chaos into the market over his takeover bid for Twitter Inc. on Friday, first claiming his offer was “temporarily on hold” and then maintaining he is “still committed” to the deal, sending the social media giant into a tailspin.
The billionaire initially sent an early tweet saying the $44 billion deal is pending until he receives more information about the proportion of fake accounts on the social media site, which sent Twitter stock tumbling as much as 25% in premarket trading. A few hours later he sent another tweet saying he is “still committed” to the deal. Twitter’s shares recouped some of their losses and closed 9.7% lower in New York.
