Elon Musk is running out of ways to evade his original $44-billion contract to buy Twitter.
out of ways to evade his original US$44-billion contract to buy Twitter.
Behind the scenes, Twitter’s lawyers raced to verify Musk’s renewed affinity for the deal, checking whether he had indeed asked lenders for the money they had earlier committed . Those same big banks tried to tally up potential losses on the months-old deal terms, while Twitter employees, still in limbo, turned to memes and gallows humour to get through the week.
Within Twitter, employees have spent the week debating the real agenda behind Musk’s latest change of heart. Many believe it’s a play for time, with Musk conscious he was unlikely to win at trial and looking for options that would allow him to pull out at a later date. Some former Twitter staffers expressed relief at getting out before the whiplash of Musk’s public statements, as well as all the distraction and stress that his eventual ownership would likely entail.
Musk has indicated, via filings and delays, that he is in no rush to be in front of a judge. The billionaire recently had a trove of hundreds of personal text messages become public as part of the court process, revealing negotiations with his business contacts and chatter with friends. Any further court movement could mean more private matters are exposed.
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Musk's deal for Twitter lurches towards a messy closeElon Musk is running out of ways to evade his original $44-billion contract to buy Twitter.
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