Elon Musk gave a strong indication today that his purchase of Twitter is indeed on track in a reference to the tortured deal, not via tweet, but towards the tail end of an earnings’ call for Tesla.
He said the social media platform he’s looking to acquire by a court-imposed Oct. 28 deadline is currently overvalued, but “has incredible potential.” “Although, obviously, myself and the other investors are obviously overpaying for Twitter right now, the long-term potential for Twitter in my view is an order of magnitude greater than its current value,” the billionaire Tesla founder said after the electric automaker’s quarterly results.
He called Twitter an asset “that has sort of languished for a long time.” “I am excited about the Twitter situation,” he said.
Musk agreed to buy the company in April for $44 billion, or $54.20 a share, but walked away from the deal in July. Twitter sued in Delaware Chancery Court followed by a blizzard of legal filings and some acrimonious hearings.
Read more on deadline.com
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