Latest Twitter Takeover Stories

From CNN’s Reliable Sources:

Tweet storm…

Twitter shares will resume trading on Monday after the long holiday weekend. The stock’s performance will reveal … something … about confidence in Elon Musk’s takeover bid and the Twitter board’s adoption of a “poison pill” provision. To date,investors have given Musk a “no confidence” vote, in the words of the FT.

There is simply so much uncertainty. As The Information’s Jessica Toonkel told me on Sunday’s “Reliable Sources:” Is Musk “just trolling right now or does he really want to buy the platform? I think that’s what the board is trying to figure out.” CNN Business tech reporter Clare Duffy added: The “poison pill” gives the board “a little bit more time and power… and potentially gives them more opportunity to negotiate with other potential buyers.”

While the company remained quiet over the weekend, Elon remained Elon, tweeting broadsides against the board and emojis about the news coverage of his bid. Here’s an example: Venture capitalist David Sacks tweeted, “If the game is fair, Elon will buy Twitter. If the game is rigged, there will be some reason why he won’t be able to. We’re about to find out how deep the corruption goes.” Maybe Musk will be rejected in favor of a superior offer? But in Sacks’ telling, it’s all a conspiracy. Musk replied with one supportive word: “Indeed…”

The weekend’s Twitter stories

Jeremy Peters studied Musk and found “there is not much consistency in the miscellany of his public statements or his profuse Twitter commentary — except that they often align with his business interests…” (NYT)

— This is an intriguing Journal look at Musk’s “Twitter army” of superfans… (WSJ)

— WaPo’s story, on the front page of Monday’s paper, begins this way: “Social media industry safety professionals and outside experts who have spent years trying to slow the empowerment of tyrants and violent mobs by Facebook and other platforms are aghast that a second major company might come under the control of just one person, especially one complaining that Twitter places too many limits on what can be posted on its site…” (WaPo)

— “Less than a year ago, Elon Musk was hosting Saturday Night Live. Now he’s its biggest punchline,” Matt Wilstein writes… (Beast)

WaPo’s editorial board: “Let’s hope Elon Musk doesn’t win his bid…” (WaPo)


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