Elon Musk now owns 9.2% of twitter...update.. will soon be the sole owner as Board of Directors accepts his purchase offer

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brycejones

Lifer
Oct 18, 2005
27,739
26,903
136
lets return to musk and twitter:

cant belive he's going through with the $54/share buyout.
the stock is only at $54 because it's being propped up by his buy-out price.

why didnt musk argue that twitter is now worth less due to the stock market tanking?
He signed an agreement to buy it at a certain price. He fucked himself. He is going through with it instead of taking the case to court because he knows they legally he is fucked and the only thing they would happen in a trial is more things he doesn’t want known would be made public.
 

sdifox

No Lifer
Sep 30, 2005
97,032
16,250
126
lets return to musk and twitter:

cant belive he's going through with the $54/share buyout.
the stock is only at $54 because it's being propped up by his buy-out price.

why didnt musk argue that twitter is now worth less due to the stock market tanking?

Why would he get to do that? He waived his rights lol. An offer is an offer, you don't get a do-over.
 

K1052

Elite Member
Aug 21, 2003
48,246
37,676
136
I wish him luck on the 1B annual debt service in addition to operating costs (for the 6 people he doesn't plan to fire).
 
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JEDI

Lifer
Sep 25, 2001
29,391
2,736
126
He signed an agreement to buy it at a certain price. He fucked himself. He is going through with it instead of taking the case to court because he knows they legally he is fucked and the only thing they would happen in a trial is more things he doesn’t want known would be made public.
um.. isnt there like a $1B cancelation/backing away fee?
wouldnt it be cheaper for him to pay?

$54/share was inflated when he made that offer back then.
it's ridiculously inflated now with the stock market tanking since that offer.
 
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Pens1566

Lifer
Oct 11, 2005
12,321
9,175
136
um.. isnt there a $1B cancelation/backing away fee?
wouldnt it be cheaper for him to pay?

$54/share was really inflated when he made that offer back then.
it's ridiculously inflated now with the stock market tanking

That's only valid in certain scenarios. Like if his financing somehow fell through. It doesn't come into play in the "ooops, I changed my mind" path.
 

manly

Lifer
Jan 25, 2000
11,902
2,848
136
He signed an agreement to buy it at a certain price. He fucked himself. He is going through with it instead of taking the case to court because he knows they legally he is fucked and the only thing they would happen in a trial is more things he doesn’t want known would be made public.
He did go to court, and he quickly determined that he was going to ultimately lose. Because Twitter understandably doesn't trust him, they argued to the judge that the case should not be quickly dismissed just because he said a couple weeks ago "the deal is back on, but I have some new conditions." The judge assigned a Oct. 28th deadline for the parties to close the deal, or else they will head back to court sometime in November. Musk's attorneys almost certainly know his case is a dud.
 

MrSquished

Lifer
Jan 14, 2013
23,156
21,282
136
I think a bunch of bankers in midtown who are just about to lend Elon billions secured by Tesla sock are cleaning some coffee off their screens.

It's about fucking time. It's one thing to be a snake oil salesman and something just gives your customer an uncomfortable stomach ache for an hour versus selling them something that could easily cause serious car accidents.
 
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Pens1566

Lifer
Oct 11, 2005
12,321
9,175
136
He's done so much shady shit himself in terms of manipulation of stock values that there should be more than enough to follow through on a case.
 

fskimospy

Elite Member
Mar 10, 2006
85,710
51,001
136

fskimospy

Elite Member
Mar 10, 2006
85,710
51,001
136
He has a sinking feeling about this deal?

He's all washed up?

He heard the deal was a bonfire of the vanities and took it literally?
I think the deal will go through. It would be hard to stop it now. That being said I think Elon will be very sorry he made this decision.
 

IronWing

No Lifer
Jul 20, 2001
70,268
29,013
136
I think the deal will go through. It would be hard to stop it now. That being said I think Elon will be very sorry he made this decision.
Oh, I agree. I think Elon is about to discover how fickle social media is. Internet history is littered with the corpses of once indescribably popular services.

Scaring off the talent at the company you about to buy at a high premium doesn't seem smartly to me but Elon must know what he's doing.
 

MrSquished

Lifer
Jan 14, 2013
23,156
21,282
136
I read an article yesterday about the very noticeable increase in employee departures from Twitter, with a huge chunk of them going to Google and Facebook. And startups too. And this is a lot of their top talent who are very desirable. These companies aren't recruiting or hiring peons
 

fskimospy

Elite Member
Mar 10, 2006
85,710
51,001
136
Oh, I agree. I think Elon is about to discover how fickle social media is. Internet history is littered with the corpses of once indescribably popular services.

Scaring off the talent at the company you about to buy at a high premium doesn't seem smartly to me but Elon must know what he's doing.
I think k the main thing he doesn’t understand is if you stop moderating Twitter Nazis and pedos will go crazy on it and the rest of their users will not like this.