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Elon Musk1 changes his position and says he wants to buy Twitter after all
Elon Musk is proposing to proceed with his original $44 billion buyout of Twitter. The agreement would preempt3 a trial that had been scheduled to start in less than two weeks.
STEVE INSKEEP, HOST:
Elon Musk says he wants to buy Twitter after all. This after he spent the last five months trying to get out of a binding4 merger5 agreement. He also says he is willing to pay the same price he bid back in April, $44 billion. NPR's Raquel Maria Dillon asked, what's next?
RAQUEL MARIA DILLON, BYLINE6: The billionaire CEO of Tesla and SpaceX sent a letter. It basically said he'll buy Twitter if the company calls off the lawsuit7 it filed against him over the deal. That case is scheduled for trial in less than two weeks. The discovery period has been contentious8, with few wins for Musk. Business law experts say Musk's arguments weren't all that strong in court. Here's Ann Lipton, law professor at Tulane.
ANN LIPTON: It was always a kind of kamikaze strategy for him to publicly attack the company, to accuse it of fraud, to accuse it, essentially9, of being on its last legs because if he ends up buying it, now he's stuck with a company that he's made worse and is less valuable.
DILLON: Note that Lipton says if 'cause Twitter still needs to sign off on a settlement, and there's no trust left between the two parties here. Twitter is likely to ask the court to ensure that Musk won't try any funny stuff just to delay the trial. The company says it intends to close for what the parties agreed to back in April, $54.20 a share. But why would Musk flip-flop like this?
ANDY WU: Despite the battles over the last few weeks, I think his core network of advisers10 and friends still want him to do the deal at whatever price. It's not their money, per se, although in some cases, it is.
DILLON: That was Harvard Business School strategy professor Andy Wu. He says Musk is motivated by his belief in free speech principles, and his rich Silicon11 Valley friends can afford to invest in a struggling social media platform.
WU: I do think there is a broader social and political and ideological12 fight at stake here. And so really, the pricing is sort of arbitrary. It's $1 billion here and there.
DILLON: Wu notes that Musk doesn't have much experience managing organizational change. But if the deal closes, he'll finally be responsible for its policies and profitability, and he'll make Twitter do his bidding.
Raquel Maria Dillon, NPR News, San Francisco.
1 musk | |
n.麝香, 能发出麝香的各种各样的植物,香猫 | |
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2 transcript | |
n.抄本,誊本,副本,肄业证书 | |
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3 preempt | |
v.先发制人;先取 | |
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4 binding | |
有约束力的,有效的,应遵守的 | |
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5 merger | |
n.企业合并,并吞 | |
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6 byline | |
n.署名;v.署名 | |
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7 lawsuit | |
n.诉讼,控诉 | |
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8 contentious | |
adj.好辩的,善争吵的 | |
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9 essentially | |
adv.本质上,实质上,基本上 | |
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10 advisers | |
顾问,劝告者( adviser的名词复数 ); (指导大学新生学科问题等的)指导教授 | |
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11 silicon | |
n.硅(旧名矽) | |
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12 ideological | |
a.意识形态的 | |
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