Twitter deal at risk: ‘deal has in some ways impaired Twitter’

Twitter Inc (NYSE: TWTR) is down roughly 5.0% on Friday after the Washington Post said its $44 billion buyout deal with Elon Musk is in “jeopardy”.

Mark Mahaney’s remarks on CNBC’s ‘The Exchange’

The social network says “spam” makes up less than 5.0% of its mDAUs each quarter, but the CEO of Tesla Inc, is not convinced since the figure is not verifiable.

Consequently, he’s not engaging in “some” discussions on funding anymore, as per the Post. Reacting to the news, Mark Mahaney – Head of Internet Research at Evercore ISI said on CNBC’s “The Exchange”:

Recent developments at Twitter Inc

The news comes shortly after Twitter fired Kayvon Beykpour (Head of Consumer Product) and Bruce Falck (Head of Revenue). It also laid off 30% of its talent acquisition team on Thursday. Mahaney added:

Musk will have to pay $1.0 billion in break-up fee if he chooses to walk away from the takeover agreement. TWTR is currently trading more than 30% down from $54.20 a share that he agreed to pay for the microblogging company.