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Notice of termination of Twitter merger agreement

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Re: Notice of termination of Twitter merger agreement

#241

Post by madrox »

Everything about this deal strikes me as Elon trying to buy his way out of the fact he illegally acquired stock in a bid for a board seat. At the time, I'm sure he thought it was a clever way out of an immediate problem, and he certainly moved the conversation away from his stock buying shenanigans. I just don't know how he didn't see how the outcome would be...owning Twitter.

So many people have gotten very close to buying Twitter...even Disney. The surface appeal is high but once you think about it for more than ten minutes it's clearly a problematic platform with few solutions that don't drastically lower its value. If Elon ends up not closing this deal with Twitter, I suspect that Twitter will go the way of Tumblr...eventually getting bought by a second tier tech company before being mismanaged into irrelevance.

Re: Notice of termination of Twitter merger agreement

#242

Post by elliekelly »

cormacrelf wrote: post #78
redact207 wrote: post #42

Earlier quoted context omitted.

My guess is he's hit that obscene level of wealth and realizes he is now beyond the controls of the system, and can therefore game it to his advantage. When you can afford the best legal team money can buy and payoff the rest of the gatekeepers, then the game is simply to transfer wealth into your own pocket in bigger chunks.

You can’t bribe the judges in Delaware. They can force him to go through with the deal at the agreed price, now at a significant premium on market value, and it’s reasonably likely they will. This was not a genius move.

I think it’s far more likely he’d be on the hook for damages. It would be unusual for a judge to force a sale to a now unwilling buyer. Everyone—Twitter, Twitter shareholders, Musk—would be worse off with that result.

Re: Notice of termination of Twitter merger agreement

#243

Post by gsibble »

hunterb123 wrote: post #153

ITT: - Elon is stupid, haha he will lose money. - Elon is evil, he's trying to pull a fast one on this corporation! - Elon waived his rights, he shouldn't have agreed to their fake numbers! - Twitter is allowed to claim whatever % of spam bots they want for the deal. - Twitter's censorship is actually a good thing, here's why...

Well put.

Also:

- I'd hate it if Elon bought Twitter

Same person:

- What? This is bullshit! Elon should be forced to buy Twitter!

Re: Notice of termination of Twitter merger agreement

#244

Post by KerrAvon »

tick_tock_tick wrote: post #186
zimpenfish wrote: post #8

Earlier quoted context omitted.

> but he will negotiate a lower price How? As best I understand things, he has zero wiggle room - he either buys Twitter for the agreed price or he stumps up the $1B termination fee. And if Twitter's board did go mad and decide to negotiate a lower price, their shareholders would almost certainly block it and/or sue the board, no?

He has tons of wiggle room. Mostly in this will takes years to resolve, Twitter will be forced to disclose nearly every internal document that will 100% have some email or chat of employees stating, if only as hyperbole, that the bot rate they report to the public is bullshit.

Stipulate for the sake of argument that courts will accept the bot argument -- don't you think discovery would be problematic for Elon?

https://www.latimes.com/business/story/2022-04-12/musk-is-of...

Re: Notice of termination of Twitter merger agreement

#245

Post by alasdair_ »

TillE wrote: post #57
timsneath wrote: post #17

It seems apparent to this observer that he developed cold feet pretty fast after an impetuous decision, and has been looking for any reason to back out of it since then. The spam accounts angle seems like a convenient scapegoat, rather than a real surprise to him. He's clearly eccentric in his approach to decision making: I don't think any Harvard Business School course will teach "the Musk Principles". But it's uncl…

I suspect the initial decision was something like "hey I could actually just buy Twitter, that would be funny". It's less clear to me why he almost immediately started trying to back out. It's probably a waste of a significant chunk of money, but is that all?

The market went to shit almost right after the point where he made his offer. Tesla took a dive at the same time. A lot of the loan he took out is against his tesla stock.

Re: Notice of termination of Twitter merger agreement

#246

Post by at-fates-hands »

jcranmer wrote: post #9
tazjin wrote: post #5

Earlier quoted context omitted.

They write > Despite public speculation on this point, Mr. Musk did not waive his right to review Twitter’s data and information simply because he chose not to seek this data and information before entering into the Merger Agreement. In fact, he negotiated access and information rights within the Merger Agreement precisely so that he could review data and information that is important to Twitter’s business before fin…

First result on Google cropped up this: https://www.sec.gov/Archives/edgar/data/1418091/000119312522...

This is probably the document more people will be interested in.

It outlines the fraud allegations:

https://www.sec.gov/Archives/edgar/data/1418091/000110465922...

Re: Notice of termination of Twitter merger agreement

#247

Post by [deleted] »

timsneath wrote: post #17

It seems apparent to this observer that he developed cold feet pretty fast after an impetuous decision, and has been looking for any reason to back out of it since then. The spam accounts angle seems like a convenient scapegoat, rather than a real surprise to him. He's clearly eccentric in his approach to decision making: I don't think any Harvard Business School course will teach "the Musk Principles". But it's uncl…

[deleted]

Re: Notice of termination of Twitter merger agreement

#249

Post by gsibble »

daemoens wrote: post #234
gsibble wrote: post #183

Could you commenters please make up your minds over whether you want the deal to go through or not? You all seem to hate that Musk would make Twitter more conservative so you don't want the deal to go through, but also make fun of him and torment him for pulling out as if you do want the deal to go through. You can't have it both ways. Either you want the deal consummated or you don't. Stop being such hypocrites.

They still don't want him to do it, it's just funny that he's being forced into doing it now. It's not hypocritical to laugh at him for that.

HARD disagree. If you don't want him to own it, you should be happy he's walking away.

Re: Notice of termination of Twitter merger agreement

#250

Post by hansword »

somenewaccount1 wrote: post #173

I really don't understand why you all think Elon is going to pay anythying. The 6.4 provision is pretty standard, and often the reason for deal to fall through, in that enough of the requested information was not provided. You really don't know what was asked, what was ignored, and what garbage data was sent back. You think Twitter is all innocent? Pfffftt. Don't be evil, oops, i mean naive. He doesn't have to prove…

Are you a lawyer? Because 5days ago, you wrote "I am a developer..."

If you are not, where does the "all he has to show...." part come from? Do you have a source?

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