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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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1 posted on 07/08/2022 2:33:26 PM PDT by fluorescence
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To: fluorescence

Dog caught the car and couldn’t chew.


2 posted on 07/08/2022 2:36:21 PM PDT by Marxmarvelous (Nothing to fear but fear itself.)
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To: fluorescence

appears to have made false and misleading representations


Great news

Twitter will be sued until it dies


3 posted on 07/08/2022 2:37:40 PM PDT by janetjanet998
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To: fluorescence

This is a negotiation. Twitter is worth half his bid price.


4 posted on 07/08/2022 2:38:55 PM PDT by JonPreston
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To: Marxmarvelous

More like he put a bid on house from magazine pics and found out it was made of cardboard.


5 posted on 07/08/2022 2:39:10 PM PDT by gibsonguy
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To: fluorescence
This will hinge on whether or not the MAC clause was indeed triggered.

Also, if Twitter is in violation of SOX, the CFO and others are in serious trouble.

6 posted on 07/08/2022 2:39:28 PM PDT by DoodleBob (Gravity’s waiting period is about 9.8 m/s²)
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To: fluorescence

He’s entirely correct. 44 Billion for a company publishing phony traffic stats is a major problem.


7 posted on 07/08/2022 2:40:19 PM PDT by Regulator (It's fraud, Jim)
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To: Regulator

Anyone remember Enron scandal? Did Twitter hire Arthur Andersen to do their books?


8 posted on 07/08/2022 2:42:01 PM PDT by MinorityRepublican
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To: fluorescence

This will be fun to watch.


9 posted on 07/08/2022 2:43:02 PM PDT by Vermont Lt
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To: fluorescence

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.


10 posted on 07/08/2022 2:44:18 PM PDT by CFW
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To: fluorescence
Elon Musk Tells Twitter He Is “Terminating” His Acquisition of the Company

Down goes Twitter! Down goes Twitter!

11 posted on 07/08/2022 2:44:31 PM PDT by Flick Lives
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To: Vermont Lt

I hope we see a twitter implosion and death by financial fraud collapse.


12 posted on 07/08/2022 2:45:05 PM PDT by KC Burke (If all the world is a stage, I would like to request my lighting be adjusted.)
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To: fluorescence
DWAC shareholders:
13 posted on 07/08/2022 2:45:17 PM PDT by Theoria
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To: Marxmarvelous
more like a cat that takes thew mouse out to a big parking lot and lets it lose so that it and other kittens can play with it before devouring it. Musk in the end will end up with the company or some other predator with money will devours it
14 posted on 07/08/2022 2:45:44 PM PDT by PCPOET7 (`)
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To: JonPreston

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.

15 posted on 07/08/2022 2:46:47 PM PDT by Gideon7
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To: Flick Lives

I always listened to Howard Cosell’s “Speaking of Sports” morning radio update on the way to my office.


16 posted on 07/08/2022 2:46:54 PM PDT by newfreep (“Leftism, under all of its brand names, is a severe, violent & evil mental disorder.”)
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To: CFW
"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."

I suspect his plan all along may have been to make that a matter of public record.

17 posted on 07/08/2022 2:47:04 PM PDT by Joe 6-pack
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To: Theoria

spiked after hours


18 posted on 07/08/2022 2:48:29 PM PDT by RummyChick
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To: CFW

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.


19 posted on 07/08/2022 2:50:57 PM PDT by chickenlips (Neuter your politicians)
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To: fluorescence

I knew it, he was never going to buy it.


20 posted on 07/08/2022 2:54:50 PM PDT by Husker24 (Pp)
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