Twitter bid at agreed price would boost trust in fair dealing
A deal at the original price would not only benefit jaded Twitter investors, it would also show that US capitalism is robust enough to ensure tycoons keep their side of a bargain.
Less than two weeks from now, Elon Musk was due to face off against Twitter in Delaware’s Court of Chancery. Suddenly, the $US44 billion ($61 billion) takeover that neither side particularly wants is back on the table.
What must the eclectic cast of investors who offered to support Musk be feeling about the latest volte-face? If Twitter accepts Musk’s offer to buy the microblogging website for the original $US54.20-per-share price, they will avoid being dragged further into the legal battle.
