Musk made the surprising turnaround not on Twitter, as has been his custom, but in a letter to Twitter that the company disclosed in a filing Tuesday with the U.S. Securities and Exchange Commission.
, but in a letter to Twitter that the company disclosed in a filing Tuesday with the U.S. Securities and Exchange Commission.Musk’s attempt to back out of the deal
In response, Twitter said it intends to close the transaction at $54.20 per share after receiving the letter from Musk. But the company stopped short of saying it’sExperts said that makes sense given the contentious relationship and lack of trust between the two parties. Trading in Twitter’s stock, which had been halted for much of the day pending release of the news, resumed trading late Tuesday and soared 22% to close at $52.
“The deal will solve some of the short-term uncertainty at the company, but Twitter is essentially in,” she said. “There is still plenty of uncertainty around what Musk intends to do with Twitter, as well as the future of a company with a leader who has wavered in his commitment to buying it. And if we’ve learned anything from this saga, it’s that Musk is unpredictable and that it isn’t over yet.”involving the world’s richest man and one of the most influential social media platforms.
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