Twitter Shares Fall as Musk's $44 Billion Take-Private Deal Faces "Serious Danger"

During Thursday's after-hours trade, it was reported that Twitter's $44 billion take-private plan with Elon Musk is in "serious danger" as a result of Musk's decision to pull back fundraising efforts owing to continuous worries over spam accounts.

After-hours trading for Twitter Inc (NYSE:TWTR) declined by more than 3 percent following the news.d

According to unnamed sources cited by the Washington Post, Musk and his team suspended fundraising efforts for the acquisition after concluding that Twitter's data on spam accounts are unverifiable.

Twitter has stated that it deletes over 1 million spam accounts everyday and believes that bot accounts account for less than 5% of its user base. In an attempt to allay Musk's concerns, the social media behemoth has recently disclosed a plethora of data, but Musk's team remains skeptical and believes "they do not have enough information to analyze Twitter's financial prospects," according to a report citing sources.