New twists and turns come up as Elon Musk raises concerns about Twitter before the purchase deal is complete.
. Tesla’s stock fell from US$1,091 on April 5, when Twitter announced Musk’s joining the board of directors, to US$728 on May 17, just before Musk questioned Twitter’s subscriber count., which means that he personally suffered a US$64 billion loss, far exceeding the US$44 billion he planned to pay for Twitter.. He now likely realizes that going after Twitter is not worth it and he has more to lose than gain from this deal.It is not easy to simply walk away from a signed deal.
In addition, Twitter may “specifically enforce the obligations under the merger agreement,” meaning that Twitter can enforce the agreement. Indeed, the Twitter board of directors recently indicated that itWhere do we go from here? Twitter stock is trading at a 30% discount to Musk’s offer price, which means that investors seriously doubt the deal would go through. A protracted legal battle is on the cards.
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