It’s become very evident over the past few weeks that Elon Musk, prophet of finance and workplace champion, is having serious second thoughts on the idea of paying roughly $44 billion to acquire Twitter. Although his reasons for this are largely unclear (perhaps he realized just how little money there is in the project) he has publicly latched onto the idea that the social media platform’s bot issue is both underestimated and out-of-control, and requires serious scrutiny before actually moving any further along with his hostile takeover.
Try as he might, however, he’s pretty much legally locked into moving forward with the purchase at $54.20 a share... unless he’s cool with paying a $1 billion fee. Still, his lawyers continue their search for some kind of loophole or plausible argument to either back out or renegotiate terms, as evidenced by a new, pretty desperate-sounding letter filed with the SEC earlier this morning addressed to Twitter’s chief legal officer.
