I'm not sure if that is because of a modified offer, or the offer was based on some benchmark that had dropped (he already had a large portion of Twitter's shares).
Also between April 14th when he initially made an initial offer and April 25th when they accepted one, the bottom had started falling out. Facebook, in the same sector had dropped by around 10%, so by the time they accepted it was much more attractive.
Musk seems to have timed the offer and the initial separate share purchase all horribly wrong.
Is this true?
From here it seems to have gone up for $43 billion to $44 billion somehow after the initial offer:
https://en.wikipedia.org/wiki/Proposed_acquisition_of_Twitte...
I'm not sure if that is because of a modified offer, or the offer was based on some benchmark that had dropped (he already had a large portion of Twitter's shares).
Also between April 14th when he initially made an initial offer and April 25th when they accepted one, the bottom had started falling out. Facebook, in the same sector had dropped by around 10%, so by the time they accepted it was much more attractive.
Musk seems to have timed the offer and the initial separate share purchase all horribly wrong.