Elon Musk has been trolling Twitter executives since announcing his $44 billion takeover offer. The company's annual meeting Wednesday may hold more of the same.
He said during the All In tech conference in Miami earlier this month that a viable deal for Twitter at a lower price would not be "out of the question." However, Twitterits "committed to completing the transaction on the agreed price and terms as promptly as practicable."
Tesla CEO Elon Musk speaks at the Tesla Giga Texas manufacturing"Cyber Rodeo" grand opening party in Austin, Texas, on April 7, 2022. "If the deal does get renegotiated behind closed doors the actual deal price of $54.20 will likely be considerably lower in the mid $40's in the eyes of the Street," Ives predicts. "That said, we believe shareholders will clearly raise this hot button issue at the meeting this week as Twitter Board's firm view is the deal is done and its subject to regulatory and shareholder approval.
"We believe its currently a 60% chance that Musk tries to walk and use this spam account issue as the scapegoat to get out of the deal and a 40% chance Twitter's Board and Musk come to a new deal price over the coming weeks," Ives added. He emphasized that accepting a lower bid from Musk would be a better alternative than standalone status, citing major market pressure for tech stocks coupled with Snap's recent "disaster" quarter. In addition, he noted that the Twitter deal has been a "major overhang" on Tesla's stock and that Musk needs to come to a decision quickly on whether to walk away, renegotiate or follow through on the current deal as investor patience wears thin.
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