Elon Musk Tweet Storm Bodes Ill for Twitter Shareholders
- Musk floats idea of lower Twitter price with deal on hold
- Stock at lowest since March 17, erasing all deal-related gains
The Twitter headquarters in San Francisco.
Photographer: Amy Osborne/AFP/Getty Images
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There’s no edit button on Twitter. But Elon Musk may be trying to put one on his $44 billion takeover bid, which means there’s not likely to be much upside for shareholders any time soon.
Musk on Monday roiled the social media service’s stock yet again, saying he could lower his $54.20-a-share offer. He followed that Tuesday by saying the deal will go ahead only if Twitter Inc. can prove that fewer than 5% its users are bots. Twitter said it’s committed to closing the deal on the original terms.