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Elon Musk May Acquire Twitter at Even Lower Price With Latest Move

Is Elon Musk truly done trying to acquire Twitter? Perhaps not.

Credit: Reuters

The Tesla and SpaceX CEO said last weekend that he was pulling out of his US$44 billion deal to acquire Twitter, seemingly expressing buyer’s remorse over disagreements with the number of fake accounts plaguing the platform. Despite this, the deal may not be over just yet, with some experts seeing this latest move as a bargaining tool for the world’s richest man to buy the company at an even lower price.

This is, of course, just speculation for now, but until talks between both sides end, there’s still a chance that a deal could be struck. And the two sides are likely to continue talks, with both planning to take each other to court over the current disagreements.

The luxury giant LVMH Moët Hennessy Louis Vuitton was in a similar position as Musk when it announced it was acquiring U.S. jeweler Tiffany & Co. for US$135 a share in cash, which totals to US$16.2 billion. The pandemic, however, hit the luxury retail industry hard, with sales of almost every kind of good being down across all markets. This supposedly made LVMH reconsider the merger deal, which sent Tiffany’s stocks tumbling. After another messy negotiation process, LVMH ultimately bought Tiffany at a discount of US$420 million.