Elon Musk confirmed the deal was “temporarily on hold” last week.
that “defeating the spam bots” would be a top priority under the company's new ownership. “He said he wanted to buy Twitter to get rid of the spam bots, and now he’s saying he doesn’t want to buy Twitter because it has spam bots. Only one of those things can be true,”The report detail Musk is grumbling about, an estimate in line with those of past Twitter security filings, was disclosed 11 days before Musk started bot-gate.
that resulted in huge losses for Tesla, which harbors the vast majority of Musk’s fortune. “The macro environment has changed so much from the beginning of the deal to where we are now, so one would think negotiations would start over,”“Musk certainly does not want to pay more for something that he feels now is worth less given market conditions.”
Musk himself has hinted at this desire to get back at the negotiating table. After declaring the deal “on hold” last week, on Monday he suggested he could get Twitter’s board back to the bargaining table, saying that a cheaper deal was not “out of the question.” That said, Twitter’s board has been forced to constantly adjust to Musk’s erratic shifts and respond to his whims.
The board, having already rolled over for Musk once, could again capitulate and sell the company for a lower price. But as of Twitter’s latest statement, it appears it wants to draw the line at $44 billion. Musk could walk away. Both Musk and Twitter consented to a $1 billion breakup fee if either side breaks from the agreed-upon deal . But as Boneparth and Newton both note, Musk might have the “upper hand” in all this.
Then again, “because Elon has destroyed so much value in the company already, there could be another buyer…willing to pay $10 billion, $15 billion, or $20 billion for Twitter,” Newton says. “In a weird way, the sweepstakes for who owns Twitter could get more interesting in the aftermath of this.”
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