Business Maverick: Elon Musk Sows Doubt Over His $44 Billion Twitter Takeover

  • 📰 dailymaverick
  • ⏱ Reading Time:
  • 20 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 84%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

Elon Musk sowed new chaos into the market over his takeover bid for Twitter Inc. on Friday, first claiming his offer was “temporarily on hold” and then maintaining he is “still committed” to the deal, sending the social media giant into a tailspin.

Doubts have grown in recent days that Musk would be able to pull off his acquisition of Twitter, and that the entrepreneur may consider dropping his bidding price for the micro-blogging site. The whole transaction has been a frenzied and untraditional affair, largely played out on Twitter. Musk went from being “just” a prolific user to revealing a more than 9% stake in the company and then launching an unsolicited takeover offer — without detailed financing plans — within a matter of weeks.

The proposed takeover includes a $1 billion breakup fee for each party, which Musk will have to pay if he ends the deal or fails to deliver the acquisition funding as promised. It is unclear whether an update by Twitter on the number of fake accounts — if materially larger than 5% — would trigger a so-called material adverse effect clause, releasing Musk from the breakup fee.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Some months back I had no way of taking care of my kids , had no job or money also struggling through the pandemic,so I decided to try Bitcoin trading with the help of Allison_Grillo I was able to earn $50,000 now am financially stable.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in CA

Canada Canada Latest News, Canada Canada Headlines