Elon Musk Threatens to End Deal With Twitter

[brooklynite]

Source: Wall Street Journal

Elon Musk threatened to terminate his deal to buy Twitter Inc. TWTR -4.08%▼ in a letter accusing the company of not complying with his request for data on the number of spam and fake accounts on the social-media platform.

Mr. Musk said Twitter has refused to provide the data necessary for Mr. Musk to facilitate his own evaluation of the number of spam and fake accounts. In April, Twitter accepted Mr. Musk’s $44 billion bid to take over the company and go private. As part of the deal, Mr. Musk waived detailed due diligence that buyers typically perform on targets.

Read more: https://www.wsj.com/articles/elon-musk-sends-letter-to-twitter-requesting-data-on-spam-fake-accounts-11654521207?mod=hp_lead_pos1

[Bleacher Creature]

1. I'm shocked!! Shocked, I say!!!!

[LisaM]

2. Threatens, or promises?

I guess it's however you choose to look at it.

[bucolic_frolic]

3. And still no competing bids from Big Tech loaded with cash

Should tell you something.

[cstanleytech]

30. That's because twitter is simply a huge risk to invest in as

it’s entirely based on fickle users that can move at the drop of a hat to something new.
Same goes for any service that mostly depends on the internet for its revenue.

[Samrob]

47. I really don't care. Do you?

I find it difficult to give two farts about what these billionaires go through with their deals and frauds. Our democracy is at stake.

[SouthernDem4ever]

4. I guess owning twitter isn't as simple as pandering to right wing extremists

by telling them they can use your venue for lies, threats and a myriad of disinformation.

[ProudMNDemocrat]

5. Go ahead, punk, make our day.

That is all you are, Elon. A punk!

[Rebl2]

20. 👍👍👍

[geardaddy]

28. Yep!

[LenaBaby61]

42. THIS 👆🏻👆🏻👆🏻

Old racist Blood Diamond Musk's cars aren't doing well either ....

Tesla's Model S, Model Y, and Model X all got below-average reliability scores, dragging down the brand's overall standing. Consumer Reports still recommends the 2022 Model 3 sedan, which has average reliability. At the top of the heap are Lexus, Mazda, Toyota, Infiniti, Buick, Honda, and Subaru. Nov 20, 2021

[relayerbob]

6. Unintended consequences

A - Loss of 40% Tesla stock price
B - Find outs he can't control twitter users
C - SEC on his back
D - More of a laughing stock than ever

I'm soooooooo disturbed by this turn of events. Not.

[2Gingersnaps]

23. Smacks of God Jr. trying to get out from under his stupidity without paying that 1 Billion back out

fee. Anyone who thinks it's great to be king should read real history about the ones who thought like that and made complete asses of themselves with reckless abandon. Something, something, hot poker up the ass so you don't leave a mark. Ides of March. Your sons murdered in the tower, you wife declared a prostitute.

Or cut to the chase and watch "Man Who Would Be King" and see what happens when Sean Connery bleeds like anyone else.

[LenaBaby61]

43. THIS 👆🏻👆🏻👆🏻

[milestogo]

7. Elon, money isn't everything - even in business.

[Calista241]

8. This is just strong armed negotiating. n/t

[sop]

9. Musk realized buying Twitter and turning it into 4chan would only lower its stock value.

[LetMyPeopleVote]

10. The $54.20 per share deal is not going to happen

Twitter is trading at $38.65 per share which means that the market does not think that this deal is going to happen

[JustAnotherGen]

11. n/s

[twodogsbarking]

12. I really don't care.

[Me.]

13. Tiresome

just like tfg

[TygrBright]

14. "Oh PLEASE, don't throw me in that briar patch, Brer Fox!" n/t

[Smackdown2019]

15. This is the new Trump!

Differences is Musk actually has money instead of Trumps IOU's. Trump back in the day was democratic.... yes... democratic... then he went republican..... now he started his cult organization of the SS party ultra-right Forth Reich. The deplorables, which are the 30% of the voting population is his base. Mostly the rural uneducated fools cheer him, the educated power grabbing are the ones support his party.

Musk is walking down the same path as Trump did. I see the tea leaves!

Anyone who inflicts with power, money in this case, is only out for themselves.....

[ck4829]

16. Oh no, not that. Anything but that.

[Traildogbob]

17. These

Fools must think needles are huge with gigantic eyes or Camels are microscopic.

[Warpy]

18. Maybe he's noticed the company has stopped growing

or maybe he's noticed it has never turned a profit. Or maybe he just realizes the way the stock is going, he can pick it up for peanuts in six months.

I don't hold out any hope that he's discounting all the right wing swill someone is shoving into his shell like ear about how unfair it is to conservatives and how only he can fix it.

[3825-87867]

19. Hostile Takeover anyone?

Drive stocks down. Investors panic and sell for a loss.

Win Win for the Musk. Although...

Something doesn't smell right.

Musk

noun:

a substance secreted in a glandular sac under the skin of the abdomen of the male musk deer, having a strong odor, and used in perfumery.

an artificial imitation of the substance.

a similar secretion of other animals, as the civet, muskrat, and otter.
the odor of musk or some similar odor.

Botany. any of several plants, as the monkey flower, having a musky fragrance.


Tries to cover up bad odors, hmmm!

[Initech]

21. Good! Screw him!

[ColinC]

22. Fuck this guy to hell.

[Maeve]

24. And who is surprised at this? Who DIDN'T predict it? eom

[Yo_Mama_Been_Loggin]

25. Oh boohoo

[lonely bird]

27. It is not possible...

for me to give a fuck about Elon Musk.

[Delphinus]

44. I like

this a lot.

[DinahMoeHum]

29. Please proceed, asshole. You won't be missed.

[imavoter]

31. Poser! (Gen x vernacular) nt

[Wild blueberry]

32. Just go away

[Sandy Becker]

33. Hey. He got his shot of publicity and stirred things up.

What more can a billionaire corporate welfare recipient ask?

[Joinfortmill]

34. What a horse's ass.

[jmowreader]

35. Ray Charles could have seen this coming

The first problem is it always was a joke: anything Musk tweets with the number 420 in it is. Then the hard right decided “if Elon buys Twitter Trump will get back on!” and goaded him into making a deal to supposedly buy the company.

But now that both Twitter and Tesla are collapsing on the stock market, his board is probably telling him, “you get us out of this or we’ll find someone else to run this company.”

[bronxiteforever]

36. Beware the me monster

[moonshinegnomie]

37. hes going to learn about specific performance

his contract with twitter doesnt really give him a lot of outs. theres the 1B termination fee but twitter could sue hime for specific performance and force him to go thru with the buyout. it would be a messy legal battle with big attorney fees but i teh end musk doesnt really have a case since he basically waived due dillegence in his contract

[former9thward]

40. There would be a settlement.

Judges almost never enforce specific performance clauses in contracts. Yes, they are there but it is very difficult to force someone to do something they don't want to do. The one billion fee is not really a factor either. Tesla stock is down since the buyout announcement because stock holders fear Musk would have to sell a big portion of his stock for the purchase. If Musk backs out of Twitter the Tesla stock price will jump back up and with it Musk will make far more than a billion.

[lonely bird]

45. Agreed...

Iirc, Musk was going to use OPM. If that was the case you can bet those sources would damn well want a good return as opposed to just watching Musk use Twitter as a plaything.

[SKKY]

38. Call me silly, but I find it difficult getting exercised over Billionaires fighting over something..

...I have never even used. It all seems silly to me.

[Wonder Why]

39. Don't let the door hit you on the way out, Elon!

[Sandy Becker]

41. I just decided y'all are insufficiently pissed off at Elon Musk.

Have this.

[LetMyPeopleVote]

46. Twitter has hired Wachtell Lipton to sue Musk

Link to tweet

[AntiFascist]

48. Lesson for Musk...

Don't try to "own the libs" (by buying Twitter) when the libs own much of your company (Tesla).

[LetMyPeopleVote]

49. The Delaware Chancery Court has granted specific performance in other deals

The Delaware Chancery Court has ordered Tyson and Kohlberg & Co to close deals that had specific performance clauses

Link to tweet