Musk offers to buy Twitter

[Runs For Fun]

Twitter shareholder sues Elon Musk for tanking the company’s stock

Twitter stock continues to trade well below the buyout price.

www.theverge.com

 

[Cmaier]

He was never going to buy Twitter.

Musk says Twitter has committed a “material breach” of merger deal by not providing bot data

Musk says Twitter must provide him more data.

www.theverge.com

Will be a nice windfall for Twitter when they eventually sue him, I imagine.

 

[Eric]

He was never going to buy Twitter.

Musk says Twitter has committed a “material breach” of merger deal by not providing bot data

Musk says Twitter must provide him more data.

www.theverge.com

Will be a nice windfall for Twitter when they eventually sue him, I imagine.

When someone this rich trolls it moves markets, it's about time someone made an example of him.

 

[SuperMatt]

When someone this rich trolls it moves markets, it's about time someone made an example of him.

What can the SEC do? I know they can make him pay back anybody that lost money due to illegal actions of his. They can also fine him. Not sure what else they could do.

 

[Cmaier]

What can the SEC do? I know they can make him pay back anybody that lost money due to illegal actions of his. They can also fine him. Not sure what else they could do.

They have lots of enforcement powers. They can ban him from being an officer or director of a public company, for example.

 

[JayMysteri0]

This is going to be interesting & stupid at the same time.

It's going to be interesting because it will demonstrate that perhaps Musk the smart business guy does NOT do his "due diligence" before making a multi billion dollar offer on a company before it's earnings release where he could have made a lower offer. You mean really, the bot thing is an issue now? Now?

Stupid, because Twitter has been making the "bot" claim in previous ( I thought I heard 3 ) filing / reports. It didn't just show up out of the blue. Yes, Twitter got busted earlier for fudging their numbers, which I believe is what Musk & attorneys are riding on. Musk had plenty of time to question this beforehand. I imagine if Twitter shuts up & let's Musk demand information that they would only have to offer because of the deal & it lowers the price that can be seen as harmful. Musk would be damaging Twitter's financials as means to buy lower, or if he doesn't buy at all a form of sabotage. That seems like an opening for a suit from Twitter.

The man was so full of himself, he agreed to the Billion dollar fee if he didn't "consummate" the deal. He needs to put his money where his mouth is one way or another. Otherwise he's going to show the world who he truly is now, one way or another.

 

[Runs For Fun]

Surprise surprise

Elon Musk asserts his "right to terminate" Twitter deal

This is Musk's first formal, legal suggestion that his agreement to buy Twitter is anything other than legally watertight.

www.axios.com

There’s no way he ever intended on buying Twitter. Just a bored billionaire throwing some “pocket change” around for some kind of market manipulation play probably.

 

[SuperMatt]

Surprise surprise

Elon Musk asserts his "right to terminate" Twitter deal

This is Musk's first formal, legal suggestion that his agreement to buy Twitter is anything other than legally watertight.

www.axios.com

There’s no way he ever intended on buying Twitter. Just a bored billionaire throwing some “pocket change” around for some kind of market manipulation play probably.

So much for him owning the libs… The far-right nuts must be crying today. Musk was supposed to make Twitter a hate-speech paradise but now they have to slither back to the empty streets of Truth Social…

 

[JayMysteri0]

Hey, he's rich right?

He can afford to blow a billion bucks.

Oh, he does NOT want to pay on what he agreed upon?

Why does that sound familiar?

 

[Eric]

Look who has Musk's back.

https://www.twitter.com/i/web/status/1533897734645862403/

 

[JayMysteri0]

Look who has Musk's back.

https://www.twitter.com/i/web/status/1533897734645862403/

Ya gotta appease the base to distract from the fact one's been under indictment for more than half a decade.

https://www.usnews.com/news/politics/articles/2022-05-23/seven-years-later-still-no-trial-for-texas-ag-ken-paxton

I guess it's tit for tat

Twitter’s lawsuit against Texas Attorney General Ken Paxton tossed by federal judge

Twitter sued the attorney general Ken Paxton following his launch of an investigation into the social media platform after it suspended President Donald Trump’s account.

www.texastribune.org

I got to wonder if the concern for "Texas consumers" over bots isn't considerable laughable.

 

[Eric]

Regardless of how this has all played out I'll be relieved that he's not buying them out and glad I've stuck it out until the ink dried. He's the worst possible person next to Trump to own a social network.

 

[turbineseaplane]

Very happy to see this might be collapsing

Don't want Musk anywhere near this
Exhausted with everything about him

 

[Eric]

How to be a good billionaire...

 

[mr_roboto]

It's going to be interesting because it will demonstrate that perhaps Musk the smart business guy does NOT do his "due diligence" before making a multi billion dollar offer on a company before it's earnings release where he could have made a lower offer. You mean really, the bot thing is an issue now? Now?

Stupid, because Twitter has been making the "bot" claim in previous ( I thought I heard 3 ) filing / reports. It didn't just show up out of the blue.

Oh, it's even stupider than that.

You know the binding agreement Musk signed to buy Twitter? In it, he waived his right to due diligence. His complaints about bots are pure bullshit, probably just intended to win the court of public opinion and/or maneuver to make it more costly to sue him to uphold his end of the deal.

So whenever you see him say something, just remind yourself that Musk was dumb enough to sign a contract to buy Twitter at a specific price without due diligence, and that same contract gives him no out other than the $1e9 penalty.

As far as anyone can tell, the real reason he doesn't want to go through with the deal is that Tesla stock dropped precipitously after the ink was dry and now he'd be even more absurdly overleveraged and he doesn't want to be forced to sell a lot of Tesla/SpaceX to make the deal work now. Or something to that effect.

 

[Chew Toy McCoy]

Look who has Musk's back.

https://www.twitter.com/i/web/status/1533897734645862403/

Its not like there is anything else in Texas’ recent history that should be investigated. This was pretty much it.

 

[SuperMatt]

Its not like there is anything else in Texas’ recent history that should be investigated. This was pretty much it.

Just like there was nothing to investigate about Jan 6 (according to Paxton at least)…

 

[JayMysteri0]

Just clearing up AGAIN, where this guy leans

https://www.twitter.com/i/web/status/1537076096172101632/
https://www.twitter.com/i/web/status/1537051416459714560/
https://www.twitter.com/i/web/status/1536977798211854336/

 

[Eric]

Just clearing up AGAIN, where this guy leans

https://www.twitter.com/i/web/status/1537076096172101632/
https://www.twitter.com/i/web/status/1537051416459714560/
https://www.twitter.com/i/web/status/1536977798211854336/

I think we're lucky he can't run himself.

 

[SuperMatt]

Just clearing up AGAIN, where this guy leans

https://www.twitter.com/i/web/status/1537076096172101632/
https://www.twitter.com/i/web/status/1537051416459714560/
https://www.twitter.com/i/web/status/1536977798211854336/

Well, we’re into TF Guy territory now, but since this started in this thread, I guess we will continue it here. DeSantis was saving up a racist joke for quite a while, and this endorsement from Musk was the perfect opportunity to let it fly!

https://www.twitter.com/i/web/status/1537102038378631168/

TF GUY!!!!!