Elon Musk and Twitter Reach Deal for Sale (Update: WSJ report details Musk’s relationship with Putin) (1 Viewer)

[SaintForLife]

Elon Musk struck a deal on Monday to buy Twitter for roughly $44 billion, in a victory by the world’s richest man to take over the influential social network frequented by world leaders, celebrities and cultural trendsetters.

Twitter agreed to sell itself to Mr. Musk for $54.20 a share, a 38 percent premium over the company’s share price this month before he revealed he was the firm’s single largest shareholder. It would be the largest deal to take a company private — something Mr. Musk has said he will do with Twitter — in at least two decades, according to data compiled by Dealogic.

“Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated,” Mr. Musk said in a statement announcing the deal. “Twitter has tremendous potential — I look forward to working with the company and the community of users to unlock it.”

The deal, which has been unanimously approved by Twitter’s board, is expected to close this year, subject to a vote of Twitter shareholders and certain regulatory approvals.

The blockbuster agreement caps what had seemed an improbable attempt by the famously mercurial Mr. Musk, 50, to buy the social media company — and immediately raises questions about what he will do with the platform and how his actions will affect online speech globally.

Elon Musk and Twitter Reach Deal for Sale

Twitter agreed to be taken over at $54.20 a share, a 38 percent premium over the share price before it was revealed that Mr. Musk had been buying up the company’s stock.

www-nytimes-com.cdn.ampproject.org

If Musk does what he claims he wants to do it will be a big improvement and good for free speech.

 

[SaulGoodmanEsq]

I think the only thing he has over Landry is that he's under a federal indictment. Other than that, I would imagine the bar allowed Landry to pas because they needed an extra seat for the next test. Buffoon wouldn't even describe him.

Sadly he is also very likely to be our next governor.

 

[zztop]

a sign of things to come for twitter employees. Also reminds me how when employees try to create unions, they are mysteriously fired shortly after - but for-totally-unrelated-reassons

SpaceX Said to Fire Employees Involved in Letter Rebuking Elon Musk

In an email, Gwynne Shotwell, SpaceX’s president, said the letter had made other employees “feel uncomfortable, intimidated and bullied.”

www.nytimes.com

 

[GrandAdmiral]

Sadly he is also very likely to be our next governor.

Tell me about it. Louisiana voters, bruh.

 

[zztop]

oh Elon.
anyone see the news today?

Elon Musk officially tries to bail on buying Twitter

He’s officially filed.

www.theverge.com

 

[MT15]

oh Elon.
anyone see the news today?

Elon Musk officially tries to bail on buying Twitter

He’s officially filed.

www.theverge.com

Twitter is suing him to force him to complete the deal, lol.

 

[samiam5211]

Elon just found out he has over thirty new children and that he can't afford child support and twitter.

Twitter is saying his kids are bots.

 

[SaulGoodmanEsq]

He strikes me as someone who is desperate for attention which is surprising because with Eleventy hundred berjillion dollars you'd think he could find other ways to entertain himself.

 

[el caliente]

This story just keeps giving, and giving, and giving.

I can’t wait for RadioShack to step up to the plate and replace Elon as the buyer.

 

[MT15]

I would say Elon has reached the “find out” level of his nonsense.

 

[J-DONK]

Twitter is suing to complete the deal.

Twitter sues Elon Musk to force him to complete acquisition

Twitter has sued billionaire Elon Musk in an effort to force him to follow through with his deal to buy the social media company.

www.cnn.com

 

[zztop]

an update

Musk Revives $44 Billion Twitter Bid, Aiming to Avoid Trial

www.bloomberg.com

 

[coldseat]

an update

Musk Revives $44 Billion Twitter Bid, Aiming to Avoid Trial

www.bloomberg.com

They must have found some really incriminating evidence on him during discovery that he doesn't want released for him to make that about face.

 

[DaveXA]

They must have found some really incriminating evidence on him during discovery, that he doesn't want released, for him to make that about face.

Maybe, but I tend to think the legal quagmire is costing him money and he'd rather buy Twitter and actually start reaping the benefits of owning Twitter. Time is money, and the longer it drags out, the more it's gonna cost him.

That and I think it's become clear to him that he's not getting out of his original offer.

 

[bdb13]

Homie it's just a wealthy, right-wing troll at this point:

It would be pretty funny though if he can't get out of the Twitter deal now LOL.

yep pretty funny

 

[superchuck500]

Maybe, but I tend to think the legal quagmire is costing him money and he'd rather buy Twitter and actually start reaping the benefits of owning Twitter. Time is money, and the longer it drags out, the more it's gonna cost him.

That and I think it's become clear to him that he's not getting out of his original offer.

I don’t think this is because he wants to shut down the legal fees. It’s not really that much money.

I also think that until he’s willing to secure the deal somehow or get an escrow or third-party guarantor, Twitter isn’t going to drop the suit.

I’m wondering how much of it is to avoid his deposition. Or perhaps he just sees where this is going - he’s going to lose.

 

[MT15]

Someone said they think this is just a delaying tactic. It stops the suit, and he can take his sweet time to put the deal together.

 

[superchuck500]

Someone said they think this is just a delaying tactic. It stops the suit, and he can take his sweet time to put the deal together.

Twitter isn't going to dismiss the suit without a truly enforceable guarantee. Twitter is the plaintiff, the case doesn't end unless the plaintiff voluntarily dismisses the suit or there's some kind of dispositive judgment. Twitter isn't going to voluntarily dismiss based on a letter with no real enforceability.

 

[MT15]

Twitter isn't going to dismiss the suit without a truly enforceable guarantee. Twitter is the plaintiff, the case doesn't end unless the plaintiff voluntarily dismisses the suit or there's some kind of dispositive judgment. Twitter isn't going to voluntarily dismiss based on a letter with no real enforceability.

Not dismiss, I worded it poorly. It stops the suit from proceeding, kind of suspends it, pending the sale going through. And Musk can now take his time putting the deal together. It was just someone’s opinion that I read, maybe they were wrong.