Elon Musk’s Twitter Reversal Revives Takeover Bid for a Now-Weaker Firm

Elon Musk'S Twitter Reversal Revives Takeover Bid For A Now-Weaker Firm - Medium
Updated Oct. 5, 2022 5:18 pm ET

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Elon Musk’s latest about-face over his $44 billion deal to buy Twitter has him poised to take over a company that is weaker than it was before he tried to abandon the agreement—thanks in part to his own actions.

Broad economic concerns have intensified since July 8, when Mr. Musk made public his intention to terminate the deal. The Federal Reserve has raised interest rates by 0.75 percentage point at a second and third straight meeting, the Dow Jones Industrial Average last week fell into what investors call a bear market, and Twitter’s social-media rival Snap Inc. is slashing jobs.

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This article was written by and originally published on www.wsj.com