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Musk Says Twitter Deal at Lower Price 'Not Out of the Question'

Stock Markets May 16, 2022 03:30PM ET
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© Reuters

By Yasin Ebrahim 

Investing.com -- Elon Musk said Monday that a cut-price deal for Twitter wouldn't be "out of the question" after the billionaire paused the deal last week, citing concerns over fake accounts on the social media platform.

Musk spoke at a conference hosted by a podcast called “All-In” led by Chamath Palihapitiya, Jason Calacanis, David Sacks and David Friedberg.  

Twitter (NYSE:TWTR) was down 7% in recent trading. 

Musk last week said the $44 billion deal to take Twitter private was "temporarily on hold" as he awaits confirmation that spam or fake accounts do represent less than 5% of users. 

The move sparked widespread speculation that Musk was seeking to negotiate a lower price than the $54.20 per share offered for the company last month. If the potential lower price isn't accepted, and Musk ultimately walks away, “then the stock would likely see a sub $30 level with a broken deal in this shaky market backdrop,” Wedbush said.

 

Musk Says Twitter Deal at Lower Price 'Not Out of the Question'
 

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Comments (12)
Me comment
Me comment May 16, 2022 10:52PM ET
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100% fake is correct that is why trump and his uneducated followets all used it all the time. it fit their views, all fake.
Murali Krishna
Murali Krishna May 16, 2022 10:14PM ET
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When Twitter goes to $18, Musk will say, I will not buy because everything is suspicious
Murali Krishna
Murali Krishna May 16, 2022 10:12PM ET
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Twitter is 100% fake, the idea was cockamamie, why anyone should follow anyone else unless they have no brains
Tyrone Jackson
Tyrone Jackson May 16, 2022 8:22PM ET
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About 30-40% of the accounts are fake. He will expose this. Who actually uses Twitter? Just government and big schemes trying to influence you. Stock holders about to take a massive haircut when musk reveals the high fake accounts.
Mario Nickel
Mario Nickel May 16, 2022 7:04PM ET
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maybe musk's people are buying everything thats dumped around 40 dollars. at the end the original price offer stands but a large amount of shareholders dont need to get paid the premium because those additional shares are owned by him or his buyers for.him. too much conspiracy thinking?
Sattar Langary
Sattar Langary May 16, 2022 5:35PM ET
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Twitter should stay public and not sell to Musk. It will jump to 50-60 in a day!
Carrascal Eduardo
Edouard May 16, 2022 4:18PM ET
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Isn't this man simply speculating on the downside......Shouldn't he have informed himself before acting?
Karl Kessler
Karl Kessler May 16, 2022 4:17PM ET
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Showing up on a podcast with the SPAC king isn't the most confident look.
Kevin Mcqueen
Kevin Mcqueen May 16, 2022 4:04PM ET
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twatter is fake news using bots to make ppl think there are more socialist. fake users=over evaluation.
Bb Yy
Bb Yy May 16, 2022 4:02PM ET
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Deal at a lower price isn't exactly Elon's decision to make.
 
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