The Twitter sideshow continues as Elon Musk frets with a case of buyer's remorse.
According to a report, executives told staff that the deal is proceeding as expected and that there's 'no such thing' as a deal being 'on hold' as Elon Musk stated. They said they will not renegotiate on price.
All the M&A people I follow argue that it's a very high hurdle for Elon Musk to get out of closing the deal, even if bots are much higher than stated. He waived due diligence and Twitter discloses that its bot estimates use 'significant judgement'.
There's lots of daylight between the current price of $37.03 and the deal price of $54.20 and that will make for an interesting trade. With tech being wrecked currently, it's safe to say that Elon could have picked it up much cheaper if he'd waited a few months.
