Twitter should try to resolve Elon Musk dispute 'sooner rather than later' - former FCC chair
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Ajit Pai, a former chairman for the U.S. Federal Communications Commission and a current partner at Searchlight Capital, said Thursday that the leadership at Twitter (NYSE:TWTR) should want to resolve its dispute with billionaire Elon Musk relatively soon.
Speaking to CNBC, Pai argued that TWTR's board of directions should not let negotiations linger into the "late summer or fall" and, instead, look to close the firm's takeover deal with the Tesla (TSLA) boss in the near term.
"From a business perspective, I would want to resolve the uncertainty about this sooner rather than later," he said, adding "the time value is almost as significant as the stock price itself" when considering merger terms.
Commenting on TWTR's recent decision to release data about its business to Musk, Pai called the move an "important step forward" but "not the end of the conversation."
Pai noted that the board's main goals at this point are to preserve the agreed-upon terms of the buyout deal, including the $54.20 per share purchase price, and to avoid any litigation with Musk. On the second point, the Searchlight partner joked the current dispute would provide "full employment for merger lawyers."
Even though he called on TWTR to "stick to the terms of the deal as close as you can," Pai also acknowledged that leaders at the social media giant might have to make concessions to close the deal quickly.
"There is a point at which the board is going to be concerned that there is only so much we can do to preserve the original terms of the merger agreement," he said.

For more on the best way to react to the ongoing wrangling surrounding the deal, see what Seeking Alpha contributor Bret Jensen advises for trading the Twitter saga.