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Notice of termination of Twitter merger agreement
681–690 of 1001 posts
Re: Notice of termination of Twitter merger agreement
#682Earlier quoted context omitted.
It will eventually settle. If they sue and win Musk's financing will have long backed out so they aren't going to end up with enough to close the deal. I suppose they could force him into bankruptcy which would end up with his ownership stakes in Tesla and SpaceX sold off. Given how much of a loose cannon he's become that would probably be better for other shareholders but who knows.
> I suppose they could force him into bankruptcy which would end up with his ownership stakes in Tesla and SpaceX sold off. I wouldn't mind watching Twitter do this to him out of spite.
From what we've seen so far, I doubt the Twitter board would do that. I guess they are suing because that's what the shareholders are pushing for.
Re: Notice of termination of Twitter merger agreement
#683The filed letter ( https://www.sec.gov/Archives/edgar/data/1418091/000110465922... ) isn't the knockdown argument I would be expecting. Musk is saying, you haven't demonstrated your numbers are accurate. But having signed the merger agreement and waived due diligence, I think he needs to demonstrate that they are _not_ accurate. Complaining Twitter rate-limited his API access (which would be very foolish on their par…
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Re: Notice of termination of Twitter merger agreement
#684It's somewhat hilarious to think that even if Twitter were to settle modestly for $5bn, that would be more than double of all profit that Twitter has ever generated as a company.
Re: Notice of termination of Twitter merger agreement
#685I love the irony that Musk wants to buy Twitter and force it to promote "free speech", but is also worried about "fake" accounts.
If I want to run a thousand bots spouting fake news, isn't that my freedom of speech in action?
Re: Notice of termination of Twitter merger agreement
#686The filed letter ( https://www.sec.gov/Archives/edgar/data/1418091/000110465922... ) isn't the knockdown argument I would be expecting. Musk is saying, you haven't demonstrated your numbers are accurate. But having signed the merger agreement and waived due diligence, I think he needs to demonstrate that they are _not_ accurate. Complaining Twitter rate-limited his API access (which would be very foolish on their par…
mDAU being monetizable daily active users for those who are wondering
Re: Notice of termination of Twitter merger agreement
#687For anyone thinking he can pay the 1B$ termination fee and walk away, it's not that simple. The 1B$ is a "reverse breakup" fee, and applies when an outside force (like SEC or financing) prevents the deal. That 1B$ has nothing to do with any choices on either side, and is unlikely to factor into this process. At this point they're clearly going to trial, and it's not unlikely that the cost to Elon will be somewhere in…
So my hunch that this could lead to him going broke isn't completely off base? I figure he ends up having to pay $10E+10, and everyone knows it, so he gets short-squeezed in Tesla stock, then margin called on any loans against his stock... then POOF
$10 bn out of $200+ bn won't make him go broke though. Don't see the logic in that, Mike.
Re: Notice of termination of Twitter merger agreement
#688Okay, if everyone is posting conspiracy theories - here's mine. Musk did this for people to stop clamouring about his alleged twins with that blue-eyed smarty from Neuralink.
Re: Notice of termination of Twitter merger agreement
#689The filed letter ( https://www.sec.gov/Archives/edgar/data/1418091/000110465922... ) isn't the knockdown argument I would be expecting. Musk is saying, you haven't demonstrated your numbers are accurate. But having signed the merger agreement and waived due diligence, I think he needs to demonstrate that they are _not_ accurate. Complaining Twitter rate-limited his API access (which would be very foolish on their par…
I agree with your analysis. This has always seemed a situation driven by ego rather than rational thought and I expect ego will prevail and we will see futile legal + PR trench warfare for a while. However, my understanding of M&A law[1] is it's not enough for him to say that the numbers are missing or even wrong. He has to say that there was a material breach caused by the fact that the numbers were missing or wrong…
The podcast Opening Arguments had two great episodes about the legal details of this deal (note the first episode doubting this deal would go through was from 2 months ago):
July 4th: https://openargs.com/oa610-elons-twitter-deal-was-a-complete...
May 12: https://openargs.com/oa595-shareholders-sue-twitter-alleged-...
Re: Notice of termination of Twitter merger agreement
#690> I have enormous respect for his engineering and business skills, he's accomplished some remarkable things. But he doesn't seem so great as a dealmaker. Perhaps he's badly advised, but hey, he chose his advisors. There’s no evidence that he’s a good engineer or a good businessman, save if committing fraud or stealing the accomplishments of others is in the list of things that qualifies one of either. It’s beyond tim…
SpaceX is actually doing great things.
Tesla was very innovative 5 years ago.
These two, especially spaceX, are quite impressive.