If you are reading tea leaves, the Elon Musk takeover of Twitter does not seem like it will happen at this point.
The revelation that Twitter may be overwhelmed with fake accounts has put the deal on hold.
Even so, there has been a rush for the door by Twitter executives, with three more departures being reported at the top of the food chain.
Run for the Exits
If Twitter were entirely on the up and up, one would think these executives would hold firm.
Musk taking over should not have them moving out this quickly.
Even if they did not want to work for the man, at least hold out for a severance package, which I am sure would have been generous.
The only reason to run now is that you do not want to be part of the mess that will be exposed once Musk comes in and takes over.
The latest batch of high-ranking Twitter managers to leave consists of vice president of Twitter Service Katrina Lane, vice president of product management Ilya Brown, and head of data Max Schmeiser.
This comes only a week after the general manager of Twitter’s consumer product division, Kayvon Beykpour, and revenue product lead, Bruce Falk quit.
Twitter has been tanking ever since Musk put the deal on hold over the five percent audit.
His bid of $54.20 per share is well over the closing price on Tuesday of $38.82.
My guess here is that if Twitter fails to provide Musk with the audit he has requested, the deal is off and Twitter completely tanks.
Source: Fox Business