Elon Musk says he is ‘excited’ about buying Twitter, but overpaying at US$44 billion
- A US judge early this month suspended litigation over Musk’s proposed Twitter takeover, giving the parties until October 28 to finalise a deal
- Musk said he believes Twitter has potential to be worth ‘an order of magnitude’ more than it is now
Elon Musk on Wednesday said he is “excited” about taking over Twitter, expressing enthusiasm even though he has spent months trying to break free of the US$44 billion buyout contract.
A US judge early this month suspended litigation in the saga over Musk’s proposed takeover of Twitter, giving the parties until October 28 to finalise the on-again, off-again megadeal.
Twitter had filed a lawsuit to hold Musk to the terms of the deal he signed in April after the Tesla chief sent word he was terminating the contract.
“I’m excited about the Twitter situation,” Musk said while fielding questions on a Tesla quarterly earnings call.
“I think it’s an asset that has just sort of languished for a long time but has incredible potential, although obviously myself and the other investors are overpaying for Twitter right now.”