Business Maverick: Elon Musk Sows Doubt Over His $44 Billion Twitter Takeover

Doubts have grown in recent days that Musk would be able to pull off his acquisition of Twitter, and that the entrepreneur may consider dropping his bidding price for the micro-blogging site. The whole transaction has been a frenzied and untraditional affair, largely played out on Twitter. Musk went from being “just” a prolific user to revealing a more than 9% stake in the company and then launching an unsolicited takeover offer — without detailed financing plans — within a matter of weeks.

The proposed takeover includes a $1 billion breakup fee for each party, which Musk will have to pay if he ends the deal or fails to deliver the acquisition funding as promised. It is unclear whether an update by Twitter on the number of fake accounts — if materially larger than 5% — would trigger a so-called material adverse effect clause, releasing Musk from the breakup fee.

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