Matt Levine’s Money Stuff: Elon Musk’s Twitter Deal Is Back

Programming note: I apparently have some very bad sins to atone for.

Oh Elon

Well! That was stupid.

To recap. In April of this year, Elon Musk announced that he had bought about 9.2% of the stock of Twitter Inc. He agreed to join Twitter’s board of directors, and then changed his mind. He offered to take Twitter private at $54.20 per share and then, to my considerable surprise, actually went out and lined up $46 billion of financing to do it. Twitter’s board of directors consulted its financial advisers, who stage-whispered “SAY YES,” and it said ...