Musk ‘overpaid’ for Twitter deal on deadline

It appears that Elon Musk will meet his Friday deadline to seal the $44 billion deal to buy Twitter and avoid a trial over an overpriced deal.

The social media giant filed a lawsuit against Tesla after Musk sought to terminate the purchase agreement.

The unpredictable billionaire capitulated and revived his takeover plan as a trial loomed.

In a tweet posted Wednesday, Musk changed his profile to Chief Twit and walked into Tesla’s California headquarters with a sink.

“Remember that for a minute.”.

Afp reports that law professor Adam Badawi believes Elon Musk will announce that he has bought Twitter on Friday.

After Delaware Judge Kathaleen McCormick paused litigation on October 6, Musk is reportedly lining up financing.

“The hammer will come down” on the bargain by the end of the business day if the buyout does not close by that time, Badawi said.

The Twitter deal was cancel in July after Musk alleged that Twitter misled him about the amount of fake “bot” accounts.

In response, Twitter claimed Musk, the head of  Tesla Electric Vehicles, was simply changing his mind and concocting excuses to leave.

Tesla CEO Elon Musk expressed excitement about Twitter’s situation during a recent earnings call.

“In spite of the fact that the other investors and I overpaid for Twitter, I believe the company has tremendous potential.”

What’s going on with Twitter? 

The Washington Post reported that Musk told investors he was planning to fire nearly three-quarters of Twitter’s employees.

A worker who asked to remain anonymous said that Musk’s report came as a shock at Twitter, where some employees have already left.

The employee said a portion of people, including herself, were willing to give Musk the benefit of the doubt.

As I hear more about him, I feel less like liking him, but I find it quite funny that he brought a sink to the headquarters as a joke.”

Moreover, As Musk takes over the site, activists fear he could open the doors to more abusive and misinformed content.

It is expect that Trump’s return to the platform will be clear by him reducing content moderation to a minimum.

The then-president was blocked out of concern he would ignite more violence like the deadly attack on the Washington Capitol.

As a result of the agreement, Musk will be given control of Twitter and in charge of the often-divisive global platform.

Probably, Twitter’s current board will be replace; Musk will install directors friendly to him, as well as management,” said Badawi.

So, Given Musk’s involvement in Tesla, SpaceX, Neuralink, and the Boring Company, he doubted Musk would want to be CEO.

He now posts on Truth Social, a much smaller platform, and has vowed not to return to Twitter even after Musk takes over.

As compared to his Twitter following of 88.8 million, the former president has 4.18 million followers on Truth Social.