Ajit Pai, former chairman of the Federal Communications Commission (FCC) and partner of private equity firm searchlight capital, said on Thursday that twitter (twtr.us) management should resolve the dispute with billionaire Elon Musk as soon as possible. Pai said that the twitter board should not let the negotiations drag on to "the end of summer or autumn", but should complete the acquisition deal with musk in the near future.
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"From a business perspective, I hope to resolve the uncertainty of this issue as soon as possible," Pai said He added that when considering the terms of the merger, "the value of time is almost as important as the share price itself".
When talking about Twitter's recent decision to provide musk with data about its business, Pai said the move was "an important step forward", but "not the end of the dialogue".
Pai pointed out that the current main goal of the twitter board of directors is to retain the agreed terms of the acquisition transaction, including the acquisition price of $54.20 per share, and avoid any litigation with musk. On the second point, Pai joked that the current dispute would "provide full employment opportunities for M & A lawyers".
Although Pai called on Twitter to "abide by the terms of the agreement as much as possible", he also acknowledged that Twitter management may have to make concessions to complete the transaction quickly.
As of press time, twitter fell 0.40% at the beginning.