Down goes Twitter! Down goes Twitter!
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).”
Dog caught the car and couldn’t chew.
appears to have made false and misleading representations
Great news
Twitter will be sued until it dies
This is a negotiation. Twitter is worth half his bid price.
More like he put a bid on house from magazine pics and found out it was made of cardboard.
Also, if Twitter is in violation of SOX, the CFO and others are in serious trouble.
He’s entirely correct. 44 Billion for a company publishing phony traffic stats is a major problem.
Anyone remember Enron scandal? Did Twitter hire Arthur Andersen to do their books?
This will be fun to watch.
Twitter could not back up their claims regarding bots and fake accounts. Nor could they back up their claims that banning accounts was non-political. I don’t blame him for backing out. They do not have as many real accounts as they had indicated. That’s why just after his offer, many fake followers of those on the left just disappeared. They were trying to “clean” things up. Twitter will eventually go the way of MySpace, as will Facebook.
Down goes Twitter! Down goes Twitter!
I hope we see a twitter implosion and death by financial fraud collapse.
This is a negotiation. Twitter is worth half his bid price.
Yep. If Twitter tries to sue then he can demand discovery. He wins either way.
I always listened to Howard Cosell’s “Speaking of Sports” morning radio update on the way to my office.
I suspect his plan all along may have been to make that a matter of public record.
spiked after hours
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. I’m not sure why so many people saw him as some kind of savior.
I knew it, he was never going to buy it.
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