Elon Musk vs. Twitter Part III: Musk Offers To Buy Twitter (Again)

How It Happened

Axios

News, History, Politics

4.8 • 4.6K Ratings

🗓️ 6 October 2022

⏱️ 16 minutes

🔗️ Recording | iTunes | RSS

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Summary

Just days before a trial to determine if Elon Musk would be forced to buy Twitter was scheduled to begin, Musk sent a letter offering once again to buy Twitter for the same price he'd originally offered in April. Musk has a unique tolerance for risk at his companies, but the surprise move still shocked the tech world, and it's not clear yet if it will successfully knock the trial off the docket. Media reporter Sara Fischer and business editor Dan Primack join the podcast for a conversation on this latest twist in the saga. Both Fischer and Primack spent months reporting on the reverberations of Musk's initial offer to buy Twitter both within Musk's inner circle and inside Twitter itself. Credits: This series was reported by the Axios newsroom including Erica Pandey, Amy Pedulla, Naomi Shavin, Dan Primack, Miriam Kramer, Joann Muller, Javier E. David, Jonathan Swan, Sara Fischer, Ina Fried and Hope King. Fact-checking by Jacob Knutson. Erica Pandey hosts. Amy Pedulla is reporter-producer. Naomi Shavin is senior producer. Scott Rosenberg and Alison Snyder are the series editors. Sara Kehaulani Goo is the Editor-in-Chief and executive producer. Mixing and sound design by Ben O'Brien. Music supervision by Alex Sugiura. Theme music and original score by Michael Hanf. Special thanks to Axios co-founders Mike Allen, Jim VandeHei and Roy Schwartz. Thanks to Zach Basu, Lucia Orejarena, Priyanka Vora, and Brian Westley.

Transcript

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0:00.0	Welcome back to How It Happened. I'm your host for this season, Eric Apandee.
0:07.6	By now, you know Elon Musk makes big moves that often catch the world by surprise. That
0:14.7	happened again this week when Musk sent a letter to Twitter declaring that he would proceed
0:19.8	with his offer to purchase the platform after all. To catch you up quick, in April, Musk
0:25.9	made an offer to buy Twitter. Shortly after, he tried to reverse course. Twitter sued
0:31.5	him to go through with the deal and the trial was scheduled for mid-October in Delaware
0:35.6	Chance Record. But just days before the trial's start date, Musk decided to proceed with the
0:41.3	sale.
0:42.5	Off this news, we wanted to bring you a conversation between two of our top reporters who've covered
0:48.1	every twist and turn in this saga. Media reporter Sarah Fisher and business editor Dan
0:53.6	Pramack. This episode was recorded on Wednesday, October 5th.
0:58.1	Hey Dan. Hey Sarah. So Dan, a lot has just gone down. What just happened laid out for
1:10.6	us?
1:11.9	The big thing that happened is that Elon Musk has suddenly reversed course and decides he
1:16.3	wants to buy Twitter again. At the price he agreed to buy it for back in April, $44
1:20.8	million. Late Monday night, Musk's lawyers sent a letter to Twitter's lawyers, basically
1:26.3	saying, I know we've been suing each other over this, but don't worry, I am now prepared
1:30.4	to proceed and go forward. He also put two conditions on that one that he actually
1:35.5	secures the bank financing. And then also that there be a stay of the trial granted by
1:41.6	the court. That's a little bit more complicated because the court actually has to agree to
1:45.8	do that. And both parties need to ask the court to do that.
1:49.6	Okay, so the judge says that she'll continue to press on toward the trial because there
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