Elon Musk Offers to Buy Twitter for $43 Billion in Cash. BOOM!!!

[bjcheung77]

He's backing out because of "irregular" number of spam accounts on Twitter.  I think it's just a mess from the beginning, he's got himself into a legal battle that may take a while to process through the court.  The article mentions Twitter might be the eventual winner if they do go to court because it's hard to back up claims that Twitter lied about the spam figures.  Then again, it might be a plot to "pull down the pricing" and then buying it at a more favorable price, who knows...  Link: https://www.msn.com/en-us/money/companie...ar-AAZnnId

[Pats20]

I don’t know all the facts. But I wouldn’t doubt for a second that Elon knows exactly what he’s doing.

[dfrecore]

He had to know that there were a tremendous number of fake accounts.

I think it is a timing thing - his Tesla stock price went down a lot, most of his money is tied up there, so he doesn't have as much leeway as he thought when he made the offer.

But honestly, Twitter isn't worth the price. If he truly wanted free speech there, he'd have to fire so many people - and then it wouldn't be the same company. I'm not sure why he wanted it in the first place. It's a hot freaking mess.

[LevelUP]

If Twitter would take an all-stock deal, then Elon should have used his Tesla company to buy Twitter. At this time Twitter represented only 5% of Telsa's market cap.

Would have cost him no money and would have complete control of Twitter.

Another interesting idea. Why doesn't Telsa buy out either Ford or GM? Eliminate a competitor. Maybe the unions he doesn't like.

[jsd]

He's backing out because of "irregular" number of spam accounts on Twitter.  I think it's just a mess from the beginning, he's got himself into a legal battle that may take a while to process through the court.  The article mentions Twitter might be the eventual winner if they do go to court because it's hard to back up claims that Twitter lied about the spam figures.  Then again, it might be a plot to "pull down the pricing" and then buying it at a more favorable price, who knows...  Link: https://www.msn.com/en-us/money/companie...ar-AAZnnId

He also specifically waived his right to due diligence when he signed the contract prior inquiring about spam/bot accounts (as if he wasn't well aware of these on twitter anyway). If he had truly intended to buy twitter and this wasnt a stunt from the beginning, this would have all been part of the process before inking a deal.

[LevelUP]

Well, it's not over yet. 

“If Twitter simply provides their method of sampling 100 accounts and how they’re confirmed to be real, the deal should proceed on original terms,” Musk tweeted early Saturday. “However, if it turns out that their SEC filings are materially false, then it should not.”

https://www.marketwatch.com/story/musk-s...1659803519

Twitter's stock is up 30% from the lows. Telsa's stock is up 30% from the lows, making it easier for Musk to buy Twitter now.

Will the court really force Elon to buy Twitter now? This is an interesting court battle.

[jsd]

They won't enforce that he buy Twitter, but they will enforce penalties for pulling out of the deal if he's found at fault, which I'm sure twitter is much more interested in at this point.

[LevelUP]

Where's that BOOM!!! now?

Back to BOOM again.

Elon Musk agrees to Buy Twitter at the original price

https://apnews.com/article/elon-musk-twi...7a1388e0fd

[jsd]

he knew going through with deposition and ultimately losing was a dumb move. this should continue to be entertaining.

[LevelUP]

Looks like the purchase of Twitter will be done.