Musk Announces Twitter Purchase is 'Temporarily On Hold'

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The Facts

  • In a tweet Fri., Tesla CEO Elon Musk announced that his $44B purchase of Twitter is "temporarily on hold." He later added that he remains committed to the acquisition.

  • Musk attributed his pause to a desire to get more details on the number of fake accounts on the platform as well as the volume of account activity that constitutes "spam."

The Spin

Narrative A

Musk is a savvy businessman. This latest gambit will either depress the price of Twitter and allow him to renegotiate the deal on more favorable terms, or allow him to walk away altogether - just as a drop in Tesla's share price has made the venture less affordable for the billionaire.

Narrative B

Twitter's board could easily say "we can't give it to Elon Musk, he'll break it!" In fact, the board should have rejected Musk's offer from the start on the perfectly legal and rational grounds that he would have irreparably harmed the company if it evolved into his newest plaything.

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