Twitter says it will 'enforce' Elon Musk's $44 billion acquisition deal | Mashable.
Twitter says it will 'enforce' Elon Musk's $44 billion acquisition deal
Well well well, how the turn tables. As Tesla CEO Elon Musk continues to have second thoughts about his $44 billion acquisition of Twitter, the microblogging company has now issued a statement on the matter essentially saying, "No take backsies."
"The board and Mr. Musk agreed to a transaction at $54.20 per share," Twitter's board said in a statement to The New York Times. "We believe this agreement is in the best interest of all shareholders. We intend to close the transaction and enforce the merger agreement."
Musk has been making noises about potentially renegotiating his deal to buy Twitter for a week now, asking for proof that the number of spam accounts on the platform is indeed less than 5 percent. The billionaire claims his multi-billion dollar offer was based on this statistic from Twitter's SEC filings being true, implying that the company's value to him would be markedly different if it wasn't.
As such, Musk has said he has put the deal "on hold" until these details are cleared up to his satisfaction. If they aren't, it's likely he will attempt to haggle Twitter down from the initially agreed sale price of $54.20 per share — if not back out altogether. Twitter's share price was $38.32 at end of trade on Tuesday.
However, Twitter has reaffirmed its commitment to the sale and ensuring it is seen through, apparently of the attitude that Musk has touched it so he has to take it. It makes sense that Twitter would want to lock in the deal considering Musk agreed to pay over 140 percent of its current value.
Musk's April bid to take over Twitter came with little preamble, jumping from a 9.2 percent stake straight to his first, only, and "best and final" offer for the whole thing within a few weeks — putting pressure on the company to accept the deal just as swiftly. It's possible Musk may be regretting that now.
Sometimes our ego make bad decisions. Now, it's bite the bullet or go to court time.
ReplyDeleteHe can back out if the number of fake accounts is higher than twitter presented. Full disclosure or the deal is dead.
ReplyDeleteno, he can not harass twitter publicly for weeks, --- increasing his bid and demanding they sell even when they said no --- and after signing a binding contract claim he was 'pressured and duped' while making other statements slandering the company and trying to tank their stock prices ----- the contract states he must forfeit 1 BILLION dollars and they can take him to court to ask for the other 43 Billion.
Deletesomeone’s feelings hurt ? I’m gonna guess and say “Mask up, you’re killing the rest of us” ……
DeleteHe has not done any verification that can stand in court. His methodology is disputed by many independent researcher as fundamentally flawed, selective and statistically incorrect!
DeleteFurthermore, negotiating a 44 B deal in twitter posts is unheard of and confirmed my conclusion that he is manipulating the stocks for a better deal.
I agree it is all to lower the price for sure.
Deletedepends on the global terms. Was it "as is?" Did he waive disclosures and have conditions attached? Interesting development. I believe a provision provides he can back out for $5billion. Considerably less than his potential loss-- also an indication there were really no conditions attached.
DeleteNo one's feelings are hurt. That's literally how our court system works. A court can also force-sale his assets to meet the judgement.
DeleteYeah, he offered $44B and Twitter initially declined. Then he went back with a stronger offer, fewer contingencies, and a $1B penalty. The court system could very well be unkind and even force-sale assets to pay the judgement. Since most of his net worth is in stock and not cash, that can affect the share price of Tesla.
DeleteI love freedom of speech, I love the fact that a man called out Liberals of Twitter and we are seeing the rats fall out of the tree. This is good stuff. Whether he buys it or not, we see the corruption of the democrats at a social media level and the years of oppressed facts about the corrupt American government. Hollywood can’t write this good.
DeleteYeah, what you just said is not rooted in reality at all. He didn’t out anything. The dude shitposted he was buying Twitter, Twitter refused, he stupidly scoured $46B in financing, realized his Tesla stock was dropping from his antics and he would owe $46B to people expecting a return, and now he is lashing out. Musk needs to pay his $1B penalty fee and move on.
Deleteis this a tantrum ? Can’t shush the mass for much longer, we have the money not the woke basement dwellers. Tide is turning red everywhere. Musk is a smart man. The rats are Scurrying. Entertaining to say the least.
DeleteNo one is scurrying. Liberals are still on Twitter. Conservatives are still on Twitter. Like, what is wrong in the head with some people to have wild society-ending event fantasies lol.
DeleteThe only people mad at Musk are the same people who want their body to be a choice , but want to legally kill their babies while telling you what to do with your body so they can feel safe after 3 shots and a booster. Same people still believe BLM helped black folks and the riots and burning of several businesses in Portland and Seattle was “a safe protest”. Same people that want guns banned but live in safe zones or private gated communities, same people that think ole corn pop can count to 20 and tie his own shoes. All these people are living in a fantasy world. Drink your mocha latte and keep smiling stupidly.
Deleteit’s cute you think the bots and false accounts are all from the left. Did you notice a fake account for trump got banned today?
Deletethat red tide is from two mass shootings this week. Historically whichever party has control of the White House does poorly in the midterms. It means next to nothing, except an easy cycle for the other party. A good argument for term limits and to do away with the two party system.
Deletetwo mass shootings is to contribute almost 2 years of a spiraling economy? Ok. 🤷🏼♂️
Deleteoh, I hope you got your jab, I would feel much safer knowing you were injected 3 times and booster. 🤦♂️
Deletehe bought it as is and forfeited his due diligence. The 1 billion is only a way out if he can't complete the deal for outside reasons like regulatory approval, if he just backs out they can sue him for failure to preform.
Deleteactually the economy was put on this path with chiefly the tax cut and the tariff wars, coupled with a few other bad decisions from the current and past administrations. Are you even aware the economy was in recession before trump left office?
Deletelaughable !!!! Ran like a well oiled machine. Didn’t see $5 gas, $9 bacon, 5.6% interest rates and a solid 35k stock market. Energy independent blah blah blah , could go on for days . You don’t like orange man, he bad man. I get it. Eyes wide shut .
DeleteWow!!!! These comments amaze me. So many people don’t want freedom of speech or transparency if it offends their ideology. We all should hope Elon buys Twitter. It’s been a poisonous outlet for too long.
DeleteI don’t care for any president that adds 7 trillion dollars to the National Debt in 3 years with no reconciliation in place or anything to show for it.
DeleteLearn economics, not talking points from memes Dean
Dude, this troll doesn’t even have money in the stock market. He doesn’t know what an OPEC is or how gas prices are set. Or how a pandemic shutting down manufacturing in other parts of the world and a war in Ukraine (which Trump literally got impeached for withholding aid from 🤡) affects global inflation and pricing. The dude is hoping he can steal a lone salty tear and that it will taste as good as the oat milk latte I drink every morning. They put all of their faith in people like Elon Musk and Donald Trump to fantasize about how big of a tool they could also be if they fell into a little money and power.
Deleteharsh, but hard to refute.
DeletePoor baby! Maybe he'll have to go on public assistance. Wait, no, he's already on the dole.
ReplyDeleteWe all knew that this wasn’t going to be pretty. Lol 😂
ReplyDeleteMusk proceed, or sh*t will happen.
ReplyDeleteHe will let them sue, then let's see what comes out in discovery.
ReplyDeleteI did not know bots could cost $44 billions and billions and billions.
ReplyDeletethen you know little of technology
DeleteLove it how people making $50k a year are all concerned about this billionaire douchebag.
ReplyDeleteHow??
ReplyDeleteNo take backsies.😂
ReplyDeleteThis could see Twitter in real legal trouble if they've been misrepresenting user numbers to shareholders.
ReplyDeleteSeems that bots had a heck of freedom of speech already.
ReplyDeleteSue the conman Musk!
ReplyDeleteThere's no such thing as a hold on the deal. If Twitter has to sue to get the money the stock is going to go down even further meaning Musk will get an even worse deal.
ReplyDeletehttps://tenor.com/view/hitmans-bodyguard-hitmans-bodyguard-gi-fs-samuel-l-jackson-time-tick-tock-gif-8352665
he had his fingers crossed
ReplyDeleteIt’s a chess game and we are the pawns.
ReplyDeletelol Elon, tu seras seulement propriétaire d’un RS. Même by force 😅
ReplyDeleteThis is dumb and bad - for users.
ReplyDeleteTwitter will enforce its $44B deal with elonmusk or he will be botted out into oblivion 😂
ReplyDeleteLmao
ReplyDeleteAi pagas pagas…
ReplyDeleteWonder why twitter owner is so eager to get out from under twitter?
ReplyDeleteOr he's just waiting to get that money from elsewhere. A buy with 0 of his own fortune. Nicely done
ReplyDeleteAll this to get out of a lawsuit, to where now he is losing money on it.
ReplyDelete