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).”
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.
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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.
Well, I had thought about reactivating my Twatter account. Ain’t gonna happen now.
Glad I avoided TWTR. DWAC was tradeable but I had a feeling from the get go that TWTR was not going to work out.
...... Be interesting to see what the Shareholders do at this point since their stock price will more than likely plummet into an Abyss .....
The dog caught a blue bird and spit it out because it was rancid.
“ 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?
“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.
trump/musk revenge tour 2024...
our turn to nominate an ineligible african-american...
Same here. Maybe i'll wait until it goes bankrupt first.
He realized just how many of their accounts are fake.
That’s a definite yes they will. This is a whole different market these days.
Id guess no. They knew what they were doing and targeting when they paid for the ad service.
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.
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.
So many of you Freeps think Musk isn’t an elitist like “them”.
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.
SEC has some “splaining to do” also.
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.
I absolutely love that book.
Very possible -—they DO have legal standing to do exactly that.
Twitter built a house of cards——Now they will pay a hefty price.
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