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The Daily - Can Elon Musk Get Out of Buying Twitter?

Last week, Elon Musk announced that he was pulling out of his $44 billion agreement to purchase Twitter. Today, we explore why a company that once tried to fend off this acquisition is now trying to force Mr. Musk to buy it.

Guest: Kate Conger, a technology reporter for The New York Times.

Can Elon Musk Get Out of Buying Twitter?

From the New York Times, I'm a Steadheerndon. This is the Daily.

Last week, Elon Musk announced that he was pulling out of his $44 billion agreement to

My colleague, Kate Conger, on why a company that once tried to fend off this acquisition

is now trying to force Elon Musk to buy it.

Kate, so the last time we covered Twitter and Elon Musk was way back in April.

And there have been this long back and forth between the world's richest man and the

social media company that holds such a huge portion of our public discourse in his hands.

The question everyone was asking at that time was, just, is Elon Musk going to buy Twitter?

But it seems like he's saying at this point, actually, thanks, but no thanks.

So Kate, what's happening between these two?

Right. So at the time that Elon made an offer to buy Twitter, everyone was questioning

whether or not he was serious, whether it might be a joke.

And then Elon came to Twitter with an offer of $54.20 per share.

He had to get the 420 joke in there that comes out to about $44 billion.

The price that he was offering was a little bit higher than Twitter's share price.

I mean, the letter that he wrote to Twitter was maybe five sentences long.

He just said, this is how much I'm willing to pay, take it or leave it.

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0:00.0	From the New York Times, I'm a Steadheerndon. This is the Daily.
0:12.0	Last week, Elon Musk announced that he was pulling out of his $44 billion agreement to
0:17.4	purchase Twitter.
0:19.3	My colleague, Kate Conger, on why a company that once tried to fend off this acquisition
0:24.9	is now trying to force Elon Musk to buy it.
0:35.4	It's Tuesday, July 12.
0:43.1	Kate, so the last time we covered Twitter and Elon Musk was way back in April.
0:47.4	And there have been this long back and forth between the world's richest man and the
0:52.1	social media company that holds such a huge portion of our public discourse in his hands.
0:58.1	The question everyone was asking at that time was, just, is Elon Musk going to buy Twitter?
1:04.2	But it seems like he's saying at this point, actually, thanks, but no thanks.
1:08.8	So Kate, what's happening between these two?
1:12.1	Right. So at the time that Elon made an offer to buy Twitter, everyone was questioning
1:18.0	whether or not he was serious, whether it might be a joke.
1:21.9	And then Elon came to Twitter with an offer of $54.20 per share.
1:27.7	He had to get the 420 joke in there that comes out to about $44 billion.
1:33.3	The price that he was offering was a little bit higher than Twitter's share price.
1:37.1	So it was an interesting offer.
1:40.1	It was also a very bare bones offer.
1:42.0	I mean, the letter that he wrote to Twitter was maybe five sentences long.
1:47.0	He didn't have a lot to say.
1:48.2	He just said, this is how much I'm willing to pay, take it or leave it.
	...

Can Elon Musk Get Out of Buying Twitter?

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