Musk gives Twitter board an expensive exit

Some say money means you never have to apologize. It also seems to mean never having to accept the humiliation of a counteroffer.

Elon Musk’s offer to buy Twitter, made in a terse letter to Twitter Chairman Bret Taylor on Wednesday, reflects this line of thinking. The per-share price of $54.20 reflects a 51% premium to the stock’s 30-day moving average before Mr. Musk first announced his interest in the company on April 4. It’s also down 24% from where the stock made less than a year ago. This means that the offer is usually – and rightly so – considered an introductory offer. Musk gives Twitter board an expensive exit

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