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Elon Musk Tells Twitter He Is “Terminating” His Acquisition of the Company
The Hollywood Reporter ^ | July 8, 2022 | Alex Weprin

Posted on 07/08/2022 2:33:26 PM PDT by fluorescence

Elon Musk told Twitter on Friday that he is “terminating” his proposed acquisition of the social media company, arguing in a letter that the company was in “breach” of the merger agreement.

Musk’s letter said that he wants out of the deal “because Twitter is in material breach of multiple provisions of that Agreement, appears to have made false and misleading representations upon which Mr. Musk relied when entering into the Merger Agreement, and is likely to suffer a Company Material Adverse Effect (as that term is defined in the Merger Agreement).”


TOPICS: Business/Economy
KEYWORDS: chat; elonmusk; fakenews; fraud; humblenutjob; keywordkaren; musk; realnews; twitter
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To: chickenlips

He knew he wasn’t going to go through with the deal from the get go. He had many conservatives salivating that he was going to set things right and he got massive publicity, which was the real goal all along.

This is like an echo straight out of “Atlas Shrugged”, where Francisco d’Anconia destroys his own company by appearing to play into the hands of the looters who will eventually nationalize his mines. After leaking information that causes the stock in his mining company to rise, sucking in more looters, it is discovered, once it is nationalized, that the mining company is a shell of its former self. The stock of course crashes destroying the fortunes of the looters.


41 posted on 07/08/2022 3:48:13 PM PDT by Flick Lives
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To: fluorescence

Well, I had thought about reactivating my Twatter account. Ain’t gonna happen now.


42 posted on 07/08/2022 4:06:53 PM PDT by ducttape45 (Proverbs 14:34, "Righteousness exalteth a nation: but sin is a reproach to any people.")
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To: NautiNurse

Glad I avoided TWTR. DWAC was tradeable but I had a feeling from the get go that TWTR was not going to work out.


43 posted on 07/08/2022 4:14:00 PM PDT by Controlling Legal Authority (Author of “Are You Ready to Adopt?”)
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To: fluorescence

...... Be interesting to see what the Shareholders do at this point since their stock price will more than likely plummet into an Abyss .....


44 posted on 07/08/2022 4:15:53 PM PDT by R_Kangel ("A nation of sheep will beget a nation ruled by wolves")
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To: Marxmarvelous

The dog caught a blue bird and spit it out because it was rancid.


45 posted on 07/08/2022 4:25:33 PM PDT by AndyTheBear
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To: drop 50 and fire for effect

“ If there is evidence of fraud, then maybe they face criminal charges, and things get interesting.”

Will the advertisers sue to get their excess fees back?


46 posted on 07/08/2022 4:39:13 PM PDT by VanShuyten ("...that all the donkeys were dead. I know nothing as to the fate of the less valuable animals)
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To: chickenlips

“I’m not sure why so many people saw him as some kind of savior.”

The sociopathic twits at Twitter put out a public call months ago to attack Musk and defend every rotten thing about Twitter, including inflated user numbers for advertising and bot control of Twitter.


47 posted on 07/08/2022 4:52:52 PM PDT by sergeantdave
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To: AndyTheBear

trump/musk revenge tour 2024...

our turn to nominate an ineligible african-american...


48 posted on 07/08/2022 5:00:35 PM PDT by heavy metal (smiling improves your face value and makes people wonder what the hell you're up to... 😁)
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To: ducttape45
Well, I had thought about reactivating my Twatter account. Ain’t gonna happen now.

Same here. Maybe i'll wait until it goes bankrupt first.

49 posted on 07/08/2022 5:08:02 PM PDT by MinorityRepublican
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To: fluorescence

He realized just how many of their accounts are fake.


50 posted on 07/08/2022 5:08:28 PM PDT by FLT-bird
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To: UnwashedPeasant

That’s a definite yes they will. This is a whole different market these days.


51 posted on 07/08/2022 5:10:23 PM PDT by It Aint Easy
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To: VanShuyten

Id guess no. They knew what they were doing and targeting when they paid for the ad service.


52 posted on 07/08/2022 5:12:51 PM PDT by It Aint Easy
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To: STJPII
Actually it is not.

Twitter practically begs me every day to return (5 years later at least) in order to regard posts to me. Yeah right. I have not gone there in years. I never again shall. There is no substance to that enterprise. I love watching them rot on the vine.

53 posted on 07/08/2022 5:18:47 PM PDT by Radix (His Fraudulency Joe Biden)
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To: Controlling Legal Authority

I never joined Twitter, thus never had the motivation or inclination to own TWTR. DWAC too risky for me at this point in life. But I follow them.


54 posted on 07/08/2022 5:19:55 PM PDT by NautiNurse (Who will portray Alec Baldwin in the SNL skit? )
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To: fluorescence

So many of you Freeps think Musk isn’t an elitist like “them”.


55 posted on 07/08/2022 5:24:42 PM PDT by Roman_War_Criminal (Jesus + Something = Nothing ; Jesus + Nothing = Everything )
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To: JonPreston

Twitter will be worth what was paid for NEWSWEEK...wasn’t that $1?????

Musk is no fool.

He wrote a contract that Twitter couldn’t comply with unless it told the truth about it’s false/fake accounts.

MUSK deserves the Medal Of Freedom....Not the soccer whore.


56 posted on 07/08/2022 5:49:00 PM PDT by ridesthemiles
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To: drop 50 and fire for effect

SEC has some “splaining to do” also.


57 posted on 07/08/2022 5:52:10 PM PDT by ridesthemiles
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To: Marxmarvelous

I do not think he is on the hook for even $1.00 USA.

He made specific demands of disclosure in his offer.

Twitter SIGNED the contract——and they got caught with false numbers which affect revenue from advertisers.

Musk smoked them out-—

He doesn’t OWE a penny.....

Twitter may implode to ZERO when all is said & done.


58 posted on 07/08/2022 5:55:15 PM PDT by ridesthemiles
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To: Flick Lives

I absolutely love that book.


59 posted on 07/08/2022 5:55:40 PM PDT by spacejunkie2001
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To: VanShuyten

Very possible -—they DO have legal standing to do exactly that.

Twitter built a house of cards——Now they will pay a hefty price.


60 posted on 07/08/2022 5:57:17 PM PDT by ridesthemiles
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