Wednesday, Oct 5th, 2022
Yesterday, Elon Musk sent the folks at Twitter (TWTR) a letter that his “on again” “off again” deal to buy TWTR for $54.50 per share was back on again, days before the trial to force him to complete the deal was scheduled to begin.
Was this sudden change due to his realization that the Delaware Courts were likely to rule against him, and maybe include some additional penalties?
Or, it a strategy to force the Government to investigate the deal to see if it is in the National Interest to prevent the deal from closing? Thus giving him a real excuse for walking from his offer?
With the stock now selling close to the take-over price, if I was a shareholder, which I am not, I would think long and hard about taking the current price, and leaving the few extra dollars on the table to other speculators.
Personally, I think it would be big problem for the millions of TWTR users, who support an independent platform in the media world. Will Musk, turn Twitter into a mouthpiece for conspiracy and other non traditional supporters?
Is it a done deal? As has been said, “It is not over, till the fat lady sings.”