Musk Hits Brakes on $44B Twitter Deal, but Is 'Still Committed to Acquisition'
Elon Musk, founder, CEO, and chief engineer/designer of SpaceX, jokes with reporters as he pretends to search for an answer to a question on a cellphone at the Kennedy Space Center in Cape Canaveral, Florida, on Jan. 19, 2020. (AP) Elon Musk on Friday put his $44 billion deal for Twitter Inc. temporarily on hold, citing pending details in support of calculation that spam and fake accounts indeed represent less than 5% of users. "Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users," Musk said in a tweet . Twitter shares fell 17.7% to $37.10 in premarket trading, their lowest level since Musk disclosed his stake in the company in early April and subsequently made a "best and final" offer to take it private for $54.20 per share. Meanwhile, Tesla shares, against which Musk has secured $6.25 billion in funding for the acquisition, were up about 5%. In his latest tweet, Musk referred to