Musk says he’s ‘not sure’ he’ll succeed with Twitter acquisition

Elon Musk expressed doubt about whether he’ll succeed with his $43bn offer to buy Twitter in his first public comments about the blockbuster deal.

“I am not sure that I will actually be able to acquire it,” the billionaire entrepreneur said Thursday at a TED event in Vancouver. The offer is intended to create “an inclusive arena for free speech,” not as a way to make money, Musk said.

The comments came hours after the world’s richest person and head of Tesla roiled the financial world with the all-cash bid. With heightened interest in Musk’s activities, organisers of the conference made a last-minute change to make his prearranged appearance freely available online.

Musk, 50, revealed the proposed takeover in a filing with the US Securities and Exchange Commission earlier Thursday, after turning down the chance to take a board seat at the company.

The bid is a high-stakes clash between Musk and the social media platform, which is used by more than 200 million people. Musk has been highly vocal about changes he’d like to see at the company.

Twitter’s shares traded well below Musk’s $54.20 offer price, suggesting skepticism over the prospects of a deal. Saudi Prince Alwaleed bin Talal, a major Twitter shareholder, said Musk’s offer doesn’t come “close to the intrinsic value” of the company “given its growth prospects.”