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Closing Bell

Closing Bell Overtime: Twitter Takeover? 4/14/22

Closing Bell

CNBC

Business, News

4.4141 Ratings

🗓️ 14 April 2022

⏱️ 44 minutes

🧾️ Download transcript

Summary

The talk of the tape is Elon Musk’s maneuver to takeover Twitter. Will he be successful? Alex Kantrowitz from Big Technology and Casey Newton from Platformer discuss. Plus, stocks closed at session lows and major averages notched another week of losses. Cameron Dawson from Fieldpoint Private explains why it’s time to focus on high quality and defensive-leaning names. And, Michael Santoli looks at M&A activity in his “Last Word.” Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

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0:14.6

Welcome to overtime. I'm Scott Wabney who just heard the bells. We of course are just getting started here at post nine. We'll get to this still volatile market in just a few but the talk to the tape today is no doubt. The musk maneuver to take over Twitter whether it will succeed and what it means either way. We could get some clues in less than an hour from now when Twitter reportedly holds an

0:18.7

all hands meeting with employees.

0:21.2

That is going to be very interesting. In the meantime, let's

0:23.9

welcome in our two guests, Alex Kantuitz and Casey Newton. And guys, it's great to

0:28.8

have you both here. Alex, I'll start with you. I mean, even Musk said he doesn't

0:32.4

know if this is going to happen

0:33.9

the market seems to have placed its bet what do you think

0:37.9

i don't think there's any way that this happens i mean you definitely mentioned

0:40.8

the market twitter stock is down today

0:42.7

it doesn't look like they believe that there's anything to must must doesn't have the

0:46.7

funding in place yet I mean he could tell Tesla shares but you know it's a highly unlikely

0:51.7

thing for him to do.

0:52.6

He said that it's not a money-making thing to him,

0:55.9

it's an ideology thing to him.

0:57.2

So I think the most likely outcome here

0:59.3

is that the board rejects his offer

1:01.2

and that he sells his shares and that paves a very difficult

1:04.2

road for Twitter in the months ahead. Casey is this is easy and no as Alex paints?

1:09.6

Well every time I make a prediction about what's about to happen with Twitter and

1:14.6

Elon Musk, I get it completely wrong.

1:16.8

So I'm inclined to think that Alex is right.

1:19.1

You know, normally when you see somebody mount a hostile takeover like this.

...

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