It’s over. The deadline for Elon Musk to buy Twitter is coming to an end. After months of comings and goings, controversial statements and steps back, the CEO of Tesla has until five in the afternoon next Friday to close the purchase of the popular social network for 44,000 million dollars. On the contrary, He will face a trial that has been delayed for months.
As we have reported, Musk agreed in April to buy one of the world’s most influential media outlets for $54.20 a share. However, weeks later, tried to rescind the Twitter purchase. He said he was overly concerned about the sheer number of bots, then added a series of claims from a company whistleblower. The excuses continued and finallyTwitter sued him, urging him to go ahead with the acquisition.
The situation is at least curious: the one that would be its new owner in litigation with the company that doubts, or not, to buy, Twitter. The trial should have started on October 17, and Musk stated that he wanted to go ahead with the closing of the purchase under the previously agreed conditions. Finally, Judge Kathaleen St. Jude McCormick, of the Delaware Chancery Court, has given an ultimatum: acquire the property and end up with hesitation and indecision.
However, in the weeks since the litigation was halted, Twitter continued with steps to close such a deal. Bloomberg reported that the company had even frozen employee stock accounts in anticipation of closing the deal. And that lawyers for Musk and Twitter had already met to formalize the documentation and close the deal.
Musk has finally admitted to being “excited” with the purchase of Twitter although, he claims, having paid more than it is really worth. Experts even assure that the billionaire tycoon will pay four times more than its real value right now.
But what is the future of Twitter if Musk finally takes over the company? The Washington Post reported that if Musk finally buys Twitter, the businessman plans to lay off 75% of the employees. Given such information, Twitter sent a statement to employees denying any dismissal. Musk has not spoken on this subject, but he used his social networks to play with doubt and joke about this news.
The Biden Administration Sets Its Eyes on Musk
In the midst of an international panorama of great tension between the main powers of the world -something that has not been seen since the days of the Cold War-, another American media outlet, Bloomberg, has reported that the Biden administration is testing the possibility of review the points referring to national security between Twitter and Musk’s Starlink satellite internet deals. Some reviews that, to make matters worse, could end up blocking the Twitter deal. Something that, according to commentators, is exactly what Musk would want.
But does the US have the legal tools to carry out reviews of the Musk agreements? Bloomberg has pointed to a possibility in the law governing the Committee on Foreign Investment in the United States (CFIUS). An interagency panel governed by the Treasury Department that reviews acquisitions of US companies by foreign buyers. Nevertheless, it is unclear whether the law would support the release of security reviews national of the Musk agreements.
Today, 1 in 5 American adults has a Twitter account, according to Pew Research. For what the Biden government considers a potential risk that Twitter, owned by Musk, ends supplying data on Americans to RussiaGizmodo reports.
The story about Musk, Twitter and the watchful eye of the US government has only just begun.
