Perhaps not but there will be lessons on how a board is not supposed to act during an acquisition....and chapter 1 will be Twitter 2022.
Yeah, they got a commitment for a 38% premium and a $1 Billion penalty (for nothing) if he backs out. What more would you suggest that they could have gotten? It seems like they have already won, if you will.
I haven't backed down one bit. You just didn't understand what I meant when I said Musk has already won...not my fault you didn't understand...then again you were so focused on the poison pill maybe you couldn't see it in all of your righteousness.....but whatever let's you sleep tight at night.
Serious question, why was the board so against Musk originally buying Twitter but now that same board is clinging to the deal? Sleep on it and get back to me later. I would hate for you to get confused again and be wrong again.
The board was against it initially because, like most of the markets apparently, they thought it was a narcissistic billionaire making noise and they didn't want him messing around with their stock price for his attention. The premium was ridiculous for a pretty established company with little to no profits and they figured he was just seeking out attention at their expense. Then, the guy actually went out and put up billions of dollars worth of Tesla stock to secure loans to make the offer, so they sent him an agreement, with a large penalty, and he actually signed it. Now, they want their money.
And now the deal is dead lol. https://www.cnbc.com/2022/07/08/elon-musk-notifies-twitter-he-is-terminating-deal.html
It was already a bad idea for a number of reasons. Then came the market downturn which cut into his available money and left him way overpriced in the deal. Then the bots issue, Elon’s own issues he started to see around use of the platform. This was dead months ago, just finally getting the death certificate,
This nerd was never going to buy Twitter, it was all publicity and manipulating stocks and it backfired with the market crash. He is a scumbag though, he played the dumb right wing crowd, Trump basically told you Elon was just looking for attention and also lied about voting Democrat. Suckers lol
And now the inevitable legal battle starts. Twitter wants their money: Twitter says it’s going to sue Elon Musk for trying to back out of the deal
I bet it saves him at least 5. You guys saying the deal is dead, really? Bottom line is he exposed twitter for what it is, now they can’t afford for this deal not to happen. My guess is it settles for about midway between the original 45 or whatever billion and what it’s at now.
What is Twitter exposed as, exactly? And no, Twitter is not going to sell itself for significantly less than their market value rather than take a billion dollars for nothing.
Part of the problem is Musk contributed to the lowering of the stock price in multiple ways. I'd love the SEC to finally nail him for stock manipulation. The guy has serious mental issues for sure IMHO
I doubt it. I don't think he liked the market reaction to his putting up his shares of Tesla to get financing. Tesla has been in freefall this year. Heck, they are up a couple of percent once he said he wasn't buying Twitter. He then tried to twist his potential business partners' arms to provide equity financing, but I don't think Tesla shareholders loved that either. The problem for Musk is the agreement that he signed. Maybe he gets a small discount if he is willing to give them their money now. But they have very little incentive to deal when he signed off on this: The Musk-Twitter endgame So, weirdly, he might end up with Twitter still at a price he doesn't want to pay. But I doubt that Twitter is in any mood to give him a significant discount.
