Charlie Gasparino mentioned Elon Musk’s surprisingly lengthy Twitter hiatus is as a result of ongoing negotiations between the Tesla Motors CEO and Twitter’s board of directors.

Musk closing tweeted on June 21.

In April, Musk and Twitter struck a deal during which the billionaire would buy the corporate for $fifty four.20 a share, or about $44 billion. The deal was expected to shut sometime later within the year. In view that then, Twitter’s stock has sunk to $38.23 a share as of Friday.

“right Here’s what bankers are telling me,” Gasparino told Neil Cavuto on Friday’s Your World. “So, take it for what it’s value. And a few of these bankers proclaim to be concerned at the least tangentially in the discussions, Musk’s discussions to take over Twitter. They are saying he is negotiating presently with Twitter a few lower cost. His lawyers essentially have told him to lay off Twitter whereas this negotiation goes down as a result of they’re no longer certain precisely the place it’s going to point out up.”

Beneath the settlement, Musk is obligated to buy the company at $fifty four.20 a share, a price he’s expected to duvet through a combination of his personal money and financing from banks. Given the large haircut Twitter’s inventory has taken – as well as Tesla’s, which Musk will wish to use as collateral to get financing – he seems to be trying to wriggle out of the agreed-upon price ticket.

“This thing is also heading for litigation,” Gasparino continued. “For once, he’s paying attention to his lawyers. So that’s roughly the place we are. And the fee tag, a lot of people assume, that’s gonna be labored out.”

He added that he’s heard Musk is attempting to renegotiate the cost to somewhere around $40 a share.

While the deal requires Musk to purchase the company at $fifty four.20 a share, Twitter shareholders may need to money out at a lesser price sooner somewhat than hoping courts to rule of their desire later.

“They’re taking a look at a way to creatively finance this where each person makes a few bucks and walks away,” stated Gasparino. “They’re in a pickle.”

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The put up Charlie Gasparino Explains Why Elon Musk Hasn’t Tweeted in Extra Than a Week: ‘For Once, He’s Listening to His Lawyers’ first regarded on Mediaite.