Elon Musk tells Twitter he’ll abandon fight, go through with $44 billion deal
Dallas NewsOct 04, 2022
The Facts
Amid the ongoing legal battle between Elon Musk and Twitter over his attempt to back out of the agreement to purchase the platform, the billionaire reportedly offered to buy Twitter for his original price of $54.20 per share on Monday.
Musk had initially agreed to take over the social media company in April but backed out over allegations that Twitter misrepresented the number of fake accounts on its platform. Twitter subsequently sued Musk, accusing him of violating his agreement. In response, the billionaire filed a countersuit.
The Spin
Narrative A
This latest development — which comes just two weeks before Twitter's lawsuit was scheduled to go to trial — is a blatant attempt to save face. Musk would likely lose his legal fight and be forced to finalize the original purchase price anyway, with potential penalties. After months of attacking Twitter in court and online, the billionaire has finally accepted that he must follow through with his agreement.
Narrative B
First, Musk forced a billion-dollar company — that had no intention of selling — to accept his offer. Then, he tried to back out, leading to bombshell revelations regarding the inner workings of Twitter, before finally putting his offer back on the table. Though it's hard to predict anything related to this rollercoaster of a story, Musk may have been playing 4D chess this entire time.
