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.

 

[MT15]

 

[MT15]

Yeah, perfectly normal, non-narcissistic behavior:

Tesla asked law firm to fire attorney who worked on Elon Musk probe at SEC, report says

Cooley LLP did not fire the attorney, and Elon Musk's Tesla and SpaceX have since started to replace the firm, The Wall Street Journal reported.

www.cnbc.com

 

[SaulGoodmanEsq]

Yeah, perfectly normal, non-narcissistic behavior:

Tesla asked law firm to fire attorney who worked on Elon Musk probe at SEC, report says

Cooley LLP did not fire the attorney, and Elon Musk's Tesla and SpaceX have since started to replace the firm, The Wall Street Journal reported.

www.cnbc.com

Sounds like he tried to cancel the dude. This from the guy who recently made a Twitter post saying he hopes his harshest critics stick around to criticize him. He's a child.

 

[MT15]

He’s not right, and I wouldn’t believe a thing he says at this point, about anything.

 

[el caliente]

He’s not right, and I wouldn’t believe a thing he says at this point, about anything.

I’ll take that one step further, don’t trust anyone with a microphone/platform (billionaire or not) any further than you can throw them.

 

[MT15]

 

[el caliente]

What an interesting tweet. I saw that he will be sued by shareholders, however I also heard that the deal will probably go through at a cheaper price (apparently the $54.2/pps offer isn’t set in stone, so you will probably see it go through at $42-$45/pps).

Perhaps that is why shareholders are suing? They were expecting a bigger payday, and they will be getting slightly less?

That said, among the things to come out from Twitter’s shareholder mtg., their silence on the buyout, Jack’s stepping down, Egon Durbin not being re-elected, and the company paying a $150MM settlement to the FTC, things certainly have been interesting for the platform.

 

[MT15]

You should read this thread about Musk, el. He’s not anything like what people think: (It’s a long thread). I didn’t really have anything against him a year ago, except the knowledge that he’s totally immature and has poor impulse control. Now I see him as a malignant narcissist similar to Trump.

 

[superchuck500]

What an interesting tweet. I saw that he will be sued by shareholders, however I also heard that the deal will probably go through at a cheaper price (apparently the $54.2/pps offer isn’t set in stone, so you will probably see it go through at $42-$45/pps).

Perhaps that is why shareholders are suing? They were expecting a bigger payday, and they will be getting slightly less?

That said, among the things to come out from Twitter’s shareholder mtg., their silence on the buyout, Jack’s stepping down, Egon Durbin not being re-elected, and the company paying a $150MM settlement to the FTC, things certainly have been interesting for the platform.

Whatever the share price is, it has to pass vote of the shareholders. The lower that gets, the less likely it is to happen.

 

[zztop]

I'm so shocked by him wanting to back out

Musk’s ‘Buyer’s Remorse’ Won’t Get Him Out of Twitter Deal

Elon Musk formally and forcefully revived his assertion that Twitter Inc. has a serious bot problem, and threatened to walk away from his deal to buy the company if the social network doesn’t do more to prove its users are real people.

www.bloomberg.com

 

[samiam5211]

I'm so shocked by him wanting to back out

Musk’s ‘Buyer’s Remorse’ Won’t Get Him Out of Twitter Deal

Elon Musk formally and forcefully revived his assertion that Twitter Inc. has a serious bot problem, and threatened to walk away from his deal to buy the company if the social network doesn’t do more to prove its users are real people.

www.bloomberg.com

Yea i'm sure it is the spam bots and has nothing to do with TESLA stock value tanking in the past few months. The funding model is more difficult than it was when he proposed the deal.

 

[MT15]

For someone who likes to cosplay as an honorable, transparent guy, he sure is nothing like that, IMO. Just in general a bad guy.

 

[SaulGoodmanEsq]

He seems to be permanently stuck in adolescence.

 

[zztop]

Odd timing. Probably just a coincidence... right?

AG Paxton Launches Investigation Against Twitter for Potentially Deceiving Texas Consumers, Texas Businesses Over Fake Bot Accounts

Today Attorney General Ken Paxton launched an investigation against Twitter for potentially false reporting over its fake bot accounts in violation of the Texas Deceptive Trade Practices Act.

www.texasattorneygeneral.gov

 

[MT15]

Paxton should, by all rights, be behind bars right now. Texas is just that corrupt, smh.

 

[coldseat]

Paxton should, by all rights, be behind bars right now. Texas is just that corrupt, smh.

He's the absolute worse AG in the country, but he just won the Republican primary. Because this is Texas.

 

[SaulGoodmanEsq]

He's the absolute worse AG in the country, but he just won the Republican primary. Because this is Texas.

I dunno, Louisiana's Jeff Landry gives him a run for his money.

 

[GrandAdmiral]

I dunno, Louisiana's Jeff Landry gives him a run for his money.

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.