Elon Musk has said he is ready to proceed with the Twitter Inc TWTR takeover deal at $54.20 per share. Later, he asked the Twitter board to end all litigation before the deal closed.
However, Twitter called Musk’s latest request to drop litigation an “invitation to further mischief and delay.”
Twitter’s lawyer said in a letter that Twitter does not trust Musk to follow through.
The judge in Twitter’s lawsuit against Musk has ruled that he has until 5 p.m. Oct. 28 to close on an acquisition of the social media platform in order to avoid a trial.
O’Shares ETFs chairman and renowned Shark Tank investor Kevin O’Leary now seems to be siding with Musk on the Twitter deal.
During a recent interview, O’Leary said that Musk’s $44 billion offer to acquire Twitter would go through, ending up going in Musk’s favor.
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“I happen to have watched Musk forever, and I think this guy is Teflon, man,” O’Leary said. “And he can obviously multitask. So I bet on him in this deal. By the time all this stuff is over, I think he will have a good outcome.”
He predicted that Musk would take ownership of the social media platform, and would improve its user experience.
“Many users don’t regularly post on it anymore, and with the rise of video content on other platforms, it’s losing popularity,” O’Leary said.
“It’s a terrible company. I use the platform, too, and I look at the metrics versus all the others, including TikTok and LinkedIn and Instagram and Facebook. It’s the worst in getting your message out,” he added.
While O’Leary acknowledged that Musk is overpaying by 40% for the Twitter acquisition, he said the Tesla CEO could use his popularity on the social media platform to benefit his other companies financially.
Photo: Randstad Canada on flickr
Image and article originally from www.benzinga.com. Read the original article here.