Perhaps in vain.
Many details of Elon Musk’s path to the decision to buy Twitter have already been discussed the day before, but Bloomberg managed to add new colors to this picture. Shortly after receiving Musk’s initial offer, Twitter’s board of directors voted against finding alternative buyers of the company’s assets, according to the agency, citing testimony from participants in the events in documents from US regulators.
Image Source: The Indian Times
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Indeed, at that time, a capitalization estimate of $44 billion and the buyer’s apparent determination to see it through to the end weakened the vigilance of Twitter management, which, moreover, was afraid of lengthy approvals and negotiations with other possible investors. Now, Elon Musk says that he will not buy a social network until he gets a clear idea about the number of fake accounts and bots in the Twitter audience. It is possible that a reduction in the price of the transaction could restore Musk’s former determination, but the company’s board of directors insists on maintaining the original conditions. Now Twitter’s share price does not exceed $37, and the terms of the preliminary agreement oblige Musk and his associates to lay out $54.2 each.