AFJF Posted April 25, 2022 Share Posted April 25, 2022 Apparently he's planning on letting people speak freely. Sets a dangerous precedent. https://www.reuters.com/technology/exclusive-twitter-set-accept-musks-best-final-offer-sources-2022-04-25/ NEW YORK, April 25 (Reuters) - Twitter Inc (TWTR.N) is poised to agree a sale to Elon Musk for around $43 billion in cash, the price the CEO of Tesla has called his "best and final" offer for the social media company, people familiar with the matter said. Twitter may announce the $54.20-per-share deal later on Monday once its board has met to recommend the transaction to Twitter shareholders, the sources said, adding it was still possible the deal could collapse at the last minute. Musk, the world's richest person according to Forbes, is negotiating to buy Twitter in a personal capacity and Tesla (TSLA.O) is not involved in the deal. Twitter has not been able to secure so far a 'go-shop' provision under its agreement with Musk that would allow it to solicit other bids once the deal is signed, the sources said. Still, Twitter would be allowed to accept an offer from another party by paying Musk a break-up fee, the sources added. The sources requested anonymity because the matter is confidential. Twitter and Musk did not immediately respond to requests for comment. Twitter shares were up 4.5% in pre-market trading in New York at $51.15. Musk, a prolific Twitter user, has said it needs to be taken private to grow and become a genuine platform for free speech. The 50-year-old entrepreneur, who is also CEO of rocket developer SpaceX, has said he wants to combat trolls on Twitter and proposed changes to the Twitter Blue premium subscription service, including slashing its price and banning advertising. The billionaire, a vocal advocate of cryptocurrencies, has also suggested adding dogecoin as a payment option on Twitter. He has said Twitter's current leadership team is incapable of getting the company's stock to his offer price on its own, but stopped short of saying it needs to be replaced. "The company will neither thrive nor serve this societal imperative in its current form," Musk said in his offer letter last week. Up to the point Musk disclosed a stake in Twitter in April, the company's shares had fallen about 10% since Parag Agrawal took over as CEO from founder Jack Dorsey in late November. The deal, if it happens, would come just four days after Musk unveiled a financing package to back the acquisition. This led Twitter's board to take his offer more seriously and many shareholders to ask the company not to let the opportunity for a deal slip away, Reuters reported on Sunday. Before Musk revealed the financing package, Twitter's board was expected to reject the bid, sources had said. read more The sale would represent an admission by Twitter that Agrawal is not making enough traction in making the company more profitable, despite being on track to meet ambitious financial goals the company set for 2023. Twitter's shares were trading higher than Musk's offer price as recently as November. Musk unveiled his intention to buy Twitter on April 14 and take it private via a financing package comprised of equity and debt. Wall Street's biggest lenders, except those advising Twitter, have all committed to provide debt financing. Musk's negotiating tactics - making one offer and sticking with it - resembles how another billionaire, Warren Buffett, negotiates acquisitions. Musk did not provide any financing details when he first disclosed his offer for Twitter, making the market skeptical about its prospects. 2 Quote Link to comment Share on other sites More sharing options...
Barry McCockinner Posted April 25, 2022 Share Posted April 25, 2022 I've seen some of the most insane takes on this whole thing. A lot of people suggesting free speech on twitter is a dangerous thing. My guess/hope is that those were mostly from bot farms that elon will crush like ants. 4 Quote Link to comment Share on other sites More sharing options...
Barry McCockinner Posted April 25, 2022 Share Posted April 25, 2022 sounds like it's a done deal 3 Quote Link to comment Share on other sites More sharing options...
Panzer Division Marduk Posted April 25, 2022 Share Posted April 25, 2022 Maybe Twitter will finally get the "Edit tweet" button. Quote Link to comment Share on other sites More sharing options...
JetPotato Posted April 25, 2022 Share Posted April 25, 2022 1 Quote Link to comment Share on other sites More sharing options...
nj meadowlands Posted April 26, 2022 Share Posted April 26, 2022 Couldn't really care less about this from a macro perspective but my take is that anyone who is an Elon fanboy is a loser. 1 1 1 Quote Link to comment Share on other sites More sharing options...
Drums Posted April 26, 2022 Share Posted April 26, 2022 Man, the good you can do with 44 billion... 3 1 Quote Link to comment Share on other sites More sharing options...
AFJF Posted April 28, 2022 Author Share Posted April 28, 2022 LOL.... 1 Quote Link to comment Share on other sites More sharing options...
Matt39 Posted May 17, 2022 Share Posted May 17, 2022 On 4/26/2022 at 11:47 AM, Drums said: Man, the good you can do with 44 billion... Probably gonna be less now since that place is like 40% automated bots. Quote Link to comment Share on other sites More sharing options...
Drums Posted May 17, 2022 Share Posted May 17, 2022 6 hours ago, Matt39 said: Probably gonna be less now since that place is like 40% automated bots. Oh thank god. Id hate to see Musk have to spend so much buying an app. Hows he going to eat?! Quote Link to comment Share on other sites More sharing options...
Matt39 Posted May 17, 2022 Share Posted May 17, 2022 30 minutes ago, Drums said: Oh thank god. Id hate to see Musk have to spend so much buying an app. Hows he going to eat?! Ok I guess? Quote Link to comment Share on other sites More sharing options...
Biggs Posted May 17, 2022 Share Posted May 17, 2022 At least he knows he needs an edit button. Quote Link to comment Share on other sites More sharing options...
AFJF Posted October 4, 2022 Author Share Posted October 4, 2022 1 Quote Link to comment Share on other sites More sharing options...
Beerfish Posted October 4, 2022 Share Posted October 4, 2022 I found this refreshingly honest. “F--- off is my very diplomatic reply to you,” Ukraine’s outgoing ambassador to Germany, Andrij Melnyk, wrote in response to Musk’s tweet. Quote Link to comment Share on other sites More sharing options...
pointman Posted October 4, 2022 Share Posted October 4, 2022 Teslas suck. Elon is a hack. Quote Link to comment Share on other sites More sharing options...
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