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).”
> I knew it, he was never going to buy it.
Yeah, but it was fun watching the drama from the peanut gallery.
I expect he knew twitter lied and spent a billion to flush them out. For all we know, he did it to help Trust Social gain users.
Maybe E&Y.
Oh, my sweet Summer child…
Sydney Powell’s book, “Licensed to Lie”, shined the light of truth on the Arthur Anderson destruction, which was destruction of an honorable firm by the fascist Andrew Weissmann.
new stuff coming out about Hunter and the way he was out of control and insulting Jill
Wonder if Twitter will now suspend anyone reporting on Hunter
Yep.
Everything has a price. The simple fact of the matter is that Elon’s offer was far in excess of what Twitter was worth. Elon’s offer was $44 a share. Stock is trading at $36 buoyed by Elon’s offer. If the stock crashes to $25 after this news release and disclosure of all its fake bots and overstated traffic, that’s what it’s worth because that is what the marketplace will pay for it. The question is whether, if Elon is still interested, which I doubt, he will amend his offer to the much lower price.
Agreed, if the only consideration is market value. Twitter’s value politically, in the marketplace of ideas, is incalculable
PricewaterhouseCoopers LLP since 2009.
LOL, never txt or post anything anywhere with your real info unless it’s extremely nice/basic.
Twitter has been cooking the books.
Let’s see if the SEC ignores it.
This. Exactly.
Funny how so many self-described "conservatives" allow themselves to get conned by those who may talk a good game but who themselves are anything but conservative.
“He knew he wasn’t going to go through with the deal from the get go.”
I disagree, he saw a company wasting its potential, thought he could do it better. He likes challenges like this, but the numbers don’t add up. Twitter is a financial house of cards. Fake data was used to drive up advertising revenue. Which is a material breach of the contract with Musk. The senior officers and board will face lawsuits from stockholders now holding the bag at a minimum. If there is evidence of fraud, then maybe they face criminal charges, and things get interesting.
They just ignored him and waited him out.
A very effective liberal tactic.
To think about all the people doing cartwheels thinking he was going to save the world.
Musk will purchase twitter, after the Board of Directors are sued by the shareholders for ballooning fake accounts and after advertisers sue for twitter fraudulently stating fake accounts where less than 5% of total accounts when fake accounts are prob 30-60%.
The stock price will plummet tomorrow when the markets open and it’s nose dive will end at prob 10 cents on the dollar by the time Musk steps in to offer $4 Billion.
Unlikely. He’s on the hook for 1 bil. He’s squirting ink to help later litigation. Twitter will be the same.
I fail to understand the hero worship.
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