After Elon Musk said it would not continue to buy twitter for $44 billion, twitter issued a statement saying that "the transaction (with MuSK) will be completed as soon as possible according to the agreed price and terms." Twitter said in a statement that "it has submitted a preliminary power of attorney statement to the securities and Exchange Commission (SEC), which is related to the previously announced agreement of Elon Musk's subsidiary to acquire twitter at $54.20 per share in cash."
"The preliminary statement of the power of attorney contains important information, including the background and reasons for the transaction between twitter and musk."
Earlier, musk said that unless twitter could prove that its false account accounted for less than 5%, he would not continue to buy twitter for $44 billion, and reiterated his view that this proportion was much higher. Earlier, in his speech at the "all in" podcast summit, musk questioned the authenticity and accuracy of Twitter's public documents and said that if the transaction was to continue, it must be carried out at a lower price.
Musk's acquisition of Twitter has been reversed. It is understood that on Friday, musk said on twitter that the acquisition of twitter was temporarily suspended because he was waiting for details about the calculation that false or spam accounts really account for less than 5% of users. Then, twitter plunged more than 25% in front of the market. However, about two hours later, musk said on another twitter that he was "still committed to acquiring (twitter)", and then the decline before twitter narrowed.