Elon Musk He appears poised to meet Friday’s deadline to close his deal again, shifting again to buy Twitter, avoiding a trial on a $44 billion contract he admits was overblown.
After it sought to end the sale, Twitter sued to keep Musk in the agreement he signed in April to buy the social media giant.
As the trial date approaches, the unpredictable billionaire gives in and revives the takeover plan.
Musk signaled the deal was on track on Wednesday by changing his deal Twitter Profile to “Chief Twit” and post a video of him walking to the company’s headquarters in California while carrying a sink.
“Let it sink in!” Mocked.
“I think on Friday we will get an announcement saying that Elon Musk has bought Twitter,” said Adam Badawi, a law professor at the University of California, Berkeley. France Press agency.
Musk is the richest man in the worldhe has reportedly been amassing funding since Delaware Judge Kathleen McCormick paused litigation on Oct. 6.
If the takeover deal is not closed by the end of the business day, Badawi added, the judge will likely “lower the gavel” and head quickly to trial.
Musk tried to back out of the Twitter deal shortly after accepting his unsolicited offer, and said in July that he had canceled the contract because he had been misled by Twitter about the number of fake “bot” accounts — allegations the company has rejected.
Twitter, in turn, sought to prove that Musk, the head of the electric car company Tesla, was making excuses to leave simply because he changed his mind.
“I’m excited about the Twitter situation,” Musk said during Tesla’s recent earnings call.
“I think it’s an asset that’s been kind of weak for a long time but has incredible potential, although it’s clear that I and other investors are overpaying for Twitter right now.”
Twitter is free for everyone?
While pitching the deal to investors, Musk said he planned to shed nearly three-quarters of Twitter’s workforce, according to a report in The Washington Post.
The report came as a workplace shock to Twitter, where some employees who would rather not work for Musk have already left, said a worker who asked not to be identified in order to speak more freely.
“But a portion of the people, myself included, are willing to give him the benefit of the doubt right now,” the employee said of Musk.
“The more I hear about him the less I like him, but I find it funny that he brought a laundromat into headquarters just as a joke.”
Musk’s oversight of the site has alarmed activists who fear it could open the floodgates to more offensive and misleading posts.
He has vowed to re-modify the content to a minimum, and is expected to pave the way for former US President Donald Trump to return to the platform.
The then-president was banned over fears he might spark more violence like the deadly attack on the Washington Capitol to overturn his election loss.
Once the deal is complete, Musk will essentially be handed the keys to Twitter and will be in charge of the often divisive global platform.
“It is possible that the current Twitter board of directors will be fired; Musk will appoint managers who are friendly with him, and he will put them in management,” Badawi said.
He doubted Musk would want to be CEO since he already runs Tesla, SpaceX, Neuralink and The Boring Company.
Trump now posts on his own smaller platform, Truth Social, and has vowed not to return to Twitter even after Musk takes over.
The former president, who is considering a new run for the White House in 2024, has 4.18 million followers on Truth Social, compared to 88.8 million followers on Twitter.