Elon Musk, Twitter held unsuccessful talks about a price cut for acquisition

Representatives of Elon Musk and Twitter Inc. held unsuccessful talks about a possible price cut to his $44 billion deal to buy the social-media platform before he reversed course Monday and said he would return to the original agreement’s terms, according to people familiar with the matter.

Musk’s... Representatives of Elon Musk and Twitter Inc. held unsuccessful talks about a possible price cut to his $44 billion deal to buy the social-media platform before he reversed course Monday and said he would return to the original agreement’s terms, according to people familiar with the matter.

Musk’s proposal this week to move forward with the April 25 takeover agreement still left unresolved issues. As of late Wednesday, representatives of Musk and Twitter TWTR were trying to hash out the details of his proposal this week to stick to the original agreement, including what would be required from both sides for litigation over the stalled deal to be dropped and whether the deal’s closing would be contingent on Musk receiving the necessary debt financing, some of the people said.

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Twitter Shares Surge 22% After Elon Musk Revives Deal to Buy Company at Original PriceTwitter sued Elon Musk to force him to go through with the purchase. Now Musk has flipped course and is again proposing to buy Twitter for $54.20 a share.
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