News broke last night from The Washington Post that Elon Musk’s bid to take over Twitter is in trouble:
Elon Musk’s deal to buy Twitter is in serious jeopardy, three people familiar with the matter say, as Musk’s camp concluded that Twitter’s figures on spam accounts are not verifiable.
Musk’s team has stopped engaging in certain discussions around funding for the $44 billion deal, including with a party named as a likely backer, one of the people said. The people spoke on the condition of anonymity because of the sensitivity of the ongoing discussions.
A few weeks ago I reported on the fact that many believe that Musk is using the number of bots on the platform as a way to get out of the deal. But that may not be the only reason why he might want out:
The spam accounts are not the only reason Musk might try to wriggle out of the deal. Twitter’s share price has fallen dramatically since his takeover bid in April, leading to the impression that he is overpaying.
And today Twitter stock has fallen about 3% as I type this. What’s clear is that this deal is in trouble and I suspect that Musk will be pulling the plug shortly.
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This entry was posted on July 8, 2022 at 10:48 am and is filed under Commentary with tags Twitter. You can follow any responses to this entry through the RSS 2.0 feed.
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Elon Musk’s Twitter Takeover Bid In “Serious Jeopardy” Say Reports
News broke last night from The Washington Post that Elon Musk’s bid to take over Twitter is in trouble:
Elon Musk’s deal to buy Twitter is in serious jeopardy, three people familiar with the matter say, as Musk’s camp concluded that Twitter’s figures on spam accounts are not verifiable.
Musk’s team has stopped engaging in certain discussions around funding for the $44 billion deal, including with a party named as a likely backer, one of the people said. The people spoke on the condition of anonymity because of the sensitivity of the ongoing discussions.
A few weeks ago I reported on the fact that many believe that Musk is using the number of bots on the platform as a way to get out of the deal. But that may not be the only reason why he might want out:
The spam accounts are not the only reason Musk might try to wriggle out of the deal. Twitter’s share price has fallen dramatically since his takeover bid in April, leading to the impression that he is overpaying.
And today Twitter stock has fallen about 3% as I type this. What’s clear is that this deal is in trouble and I suspect that Musk will be pulling the plug shortly.
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This entry was posted on July 8, 2022 at 10:48 am and is filed under Commentary with tags Twitter. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.