Elon Musk's pursuit of Twitter was a melodrama from the beginning -- a mercurial billionaire locked in a bitter fight with his favourite social media platform.
After months of recriminations and attempts to cancel his attempt to buy, Musk on Tuesday called a truce and agreed to honour his initial offer.Musk is a long-time Twitter user with more than 100 million followers, using the platform as a megaphone for his corporate and personal ambitions.
Twitter shares soared, Musk got a seat on the board, and CEO Parag Agrawal called him"a passionate believer and intense critic of the service", saying it was"exactly what we need".But it took less than a week for things to fall apart.Musk then launched a hostile takeover bid, an April 13 filing showed, and Twitter adopted a"poison pill" defense that would allow shareholders to buy additional stock.
The billionaire mogul, known for his provocative messages, set out plans to allow former US president Donald Trump back on to the platform.Then it was Musk's turn to get cold feet. He said on May 13 the deal was"temporarily on hold" while he sought details of spam and fake accounts on the platform. Musk had been buoyed by whistleblower revelations that portrayed the company as cavalier with its bot counting and lax on security.Then, on Tuesday, Musk revealed -- on Twitter, of course -- that he had agreed to close the deal at the price he had initially offered.- The future is 'X' -
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