Elon bailed on twitter?

[The Prisoner]

Elon Musk tells Twitter he's terminating deal to buy social media giant

Elon Musk is terminating the agreement to by buy Twitter, alleging that the social media giant made "false and misleading representations."

www.foxbusiness.com

 

[HNL2LHC]

Elon Musk tells Twitter he's terminating deal to buy social media giant

Elon Musk is terminating the agreement to by buy Twitter, alleging that the social media giant made "false and misleading representations."

www.foxbusiness.com

Bogus info from Twitter…..come on that couldn’t be possible

 

[rivermobster]

What is this Twitter you speak of?

 

[Skinny Tire AH]

QOE study is difficult to get any fraud past.

I think he’ll let the stock fall and jump back in.

 

[LargeOrangeFont]

QOE study is difficult to get any fraud past.

I think he’ll let the stock fall and jump back in.

Pretty convinced this was his plan all along.

 

[Racey]

Crashed their value by exposing their fraudulent user claims along with a list of other practices that go against revenue generation.

Twitter is in a pickle on this one it appears, shareholders wont be happy.

 

[LHC30]

And as a bonus maybe the SEC (or other appropriate body) will charge the twitter board with false securities statements.

 

[Skinny Tire AH]

And as a bonus maybe the SEC (or other appropriate body) will charge the twitter board with false securities statements.

Not a chance. There’s 2 sets of rules in America

 

[LHC30]

Not a chance. There’s 2 sets of rules in America

Sadly I know this.

 

[BigQ]

I started on Twitter to follow a few companies and people of my field in IT security and sadly venture sometimes to main tweets - It has to be the worst social media platform around for people to say and respond with shit they think matters and makes them important, a bunch of gaslighting one liners. I have no idea why anyone would want to own that shit so I can't blame Elon for backing out. He sure ran the stock down though @ $36.81 and I think it was in the $70 range last year,lol. Society would be better off without Twitter anyway IMO.

 

[jetboatperformance]

Personally I think Musk did exactly what he wanted to do.... He exposed Twitter for what it really is and the fake bullshit "trolls" , fake identities and censorship , He Musk, has the wherewithal to create the ruse necessary to do this His work is done

 

[CoolCruzin]

Smart man
Looked at the books , see what there .
Media kept talking about it.
Twitter now exposed to bad company management.
He walks away
Twitter looks like fools .

 

[Singleton]

Pretty convinced this was his plan all along.

Agreed. His termination fee is not that large ($1B).
The Twitter board filing lawsuits shows desperation (company value is now 50% of purchase price). If the sales at 44 is not completed Twitter is looking at BK within a year. Between the out of norm PE ratio and the debt load (debt for the quarter ending March 31, 2022 was $5.5B - 23.51% increase year-over-year. 2021 debt was $4.253B, a 65.56% increase from 2020). Companies can’t continue to operate with debt increasing at those levels and Twitter has some debt payments due based on valuation triggers.

 

[SixD9R]

I don’t blame Elon one bit for backing out.

I actually had some hope that he would take over and make twitter into what it should be which isn’t what it is now.

 

[MK1MOD0]

My guess. He will not pay the termination fee. Which will force Twitter to sue. Then....... he will force them to hand over records during discovery, which will reveal all. False claims to SEC, stock manipulation ect. And tank the company.

 

[Christopher Lucero]

His termination fee is not that large

You know, if his claim of misrepresentation/breach of trust holds, he will not owe the termination fee.

he's a crafty guy. a sneaky hyperrationlist.

he tries to 'prove' things can or cannot be done: Flamethrowers, tunnel borers, 1M Cybertruck orders, thousands of Roadster orders at a minimum of $50k deposit each, a space company that proves commercially viable orbital rocketry (planning for interplanetary), and a low eart orbit internet company that is planned to serve every square inch of the surface.

he is up to something particular there in Texas...its more than just avoiding CA taxes. I think he's gonna hyperrationalize the rules there, or the mindset there, to his own advantage, improve the world as he sees it, and the folks there are actually not going to have any reason to oppose it.

Don't you find it strange that he hasn't made bones about the TX rule that cars must be sold in dealerships, forcing the Tesla TX factory to ship cars to New Mexico and then back to TX for delivery?

 

[Caydens Cat]

My guess. He will not pay the termination fee. Which will force Twitter to sue. Then....... he will force them to hand over records during discovery, which will reveal all. False claims to SEC, stock manipulation ect. And tank the company.

Keep in mind that Elon bought > 9% of the company only a few months back before the acquisition announcement. If the stock tanks (which it has) he’s losing $$$$…

 

[caribbean20]

He had a chance to do his due diligence before he made the offer, due diligence that almost all acquirers do. It’s not like anyone was holding a gun to his head.

This one is heading to Delaware court where the Board will sue for specific performance, i.e., he goes through with the acquisition. I think it will cost more than that $1B breakup fee being talked about.

 

[TimeBandit]

I think 'ol Elon has a raging case of A.D.D.

He tweets and markets react, not cool. What happened to responsibility and decorum?

His comments about Tesla plants being "money furnaces" burning billions of dollars just another in his seemingly counterproductive spews.

 

[PaPaG]

My guess. He will not pay the termination fee. Which will force Twitter to sue. Then....... he will force them to hand over records during discovery, which will reveal all. False claims to SEC, stock manipulation ect. And tank the company.

Then he buys it for .25 cents on the $1.00 he is much smarter than most alive that is for sure...

 

[Racey]

He had a chance to do his due diligence before he made the offer, due diligence that almost all acquirers do. It’s not like anyone was holding a gun to his head.

This one is heading to Delaware court where the Board will sue for specific performance, i.e., he goes through with the acquisition. I think it will cost more than that $1B breakup fee being talked about.

The real due dilligence comes after the offer not before, the offer had to meet X and Y criteria. Twitter doesn't just hand out internal confidential information about what goes on behind the scenes, once you start peeling back the onion and find out Twitter has been inflating it's core asset numbers the deal would be off the table.

Once they were engaged in an offer pending is when the real exploration goes on. That's when he learned about the depth and breadth of twitter bot problems, and my suspicion further is that Twitter is under the thumb of one or many National Security Letters, where the government is telling them things they HAVE to do, and that they CANNOT talk about the fact that these NSL's even exist, it's under 100% gag, and unwindable. It's a massive liablity that is undisclosable.

If that's the case he is smart to pull.

 

[TPC]

BTW:
Over 500 to 550 Tesla Car service personal let go, 'schedule service' selection has disappeared from the app and customer service shrunk and no one answer the phone to schedule service.

 

[traquer]

The real due dilligence comes after the offer not before, the offer had to meet X and Y criteria. Twitter doesn't just hand out internal confidential information about what goes on behind the scenes, once you start peeling back the onion and find out Twitter has been inflating it's core asset numbers the deal would be off the table.

Once they were engaged in an offer pending is when the real exploration goes on. That's when he learned about the depth and breadth of twitter bot problems, and my suspicion further is that Twitter is under the thumb of one or many National Security Letters, where the government is telling them things they HAVE to do, and that they CANNOT talk about the fact that these NSL's even exist, it's under 100% gag, and unwindable. It's a massive liablity that is undisclosable.

If that's the case he is smart to pull.

I didn't think of that, very likely to be true.

 

[Singleton]

He had a chance to do his due diligence before he made the offer, due diligence that almost all acquirers do. It’s not like anyone was holding a gun to his head.

This one is heading to Delaware court where the Board will sue for specific performance, i.e., he goes through with the acquisition. I think it will cost more than that $1B breakup fee being talked about.

Being involved in multiple acquisitions, the REAL due diligence data sharing and review does not start until offer is accepted. Twitter has already violated a few T&C’s about data requested that went to court and they lost. The Twitter BoD filing a lawsuit shows signs of weakness. Musk can walk with only a $1B payment, but my gut says he has enough data to prove past SEC filings had fraudulent data contained in them. This is going to cause a huge issue for PricewaterhouseCoopers and open up a new Enron type issue for social media tech companies.

 

[Racey]

Being involved in multiple acquisitions, the REAL due diligence data sharing and review does not start until offer is accepted. Twitter has already violated a few T&C’s about data requested that went to court and they lost. The Twitter BoD filing a lawsuit shows signs of weakness. Musk can walk with only a $1B payment, but my gut says he has enough data to prove past SEC filings had fraudulent data contained in them. This is going to cause a huge issue for PricewaterhouseCoopers and open up a new Enron type issue for social media tech companies.

This is my layman's understanding of what is going on as well.

Couple that with the fact that Twitter's board and the people they employee are a group of woke diversity hires, and Elon Musk has created a private company that embarrasses NASA....

I'd be genuinely surprised if Musk doesn't have the upper hand in this situation.

 

[caribbean20]

Being involved in multiple acquisitions, the REAL due diligence data sharing and review does not start until offer is accepted. Twitter has already violated a few T&C’s about data requested that went to court and they lost. The Twitter BoD filing a lawsuit shows signs of weakness. Musk can walk with only a $1B payment, but my gut says he has enough data to prove past SEC filings had fraudulent data contained in them. This is going to cause a huge issue for PricewaterhouseCoopers and open up a new Enron type issue for social media tech companies.

I’ve sat in many data sharing rooms during my career too, and I used to work for PW, before the “C”. Binding offers don’t happen in almost all cases until you do your homework. I haven’t read the terms of the offer, but unless the target is in material breach, the acquirer is stuck.

Musk got cute with a quick offer denominated in an amount to signify the dope reference, seemingly over a weekend. The market crashed and he has buyers remorse. Plain and simple.

Now if he can prove false statements in the 10-K, that may change things but I think that’s a stretch. We’ll see, but if $1B is the number for the over/under bet on the cost to walk, I’m taking OVER.

 

[530RL]

I’ve sat in many data sharing rooms during my career too, and I used to work for PW, before the “C”. Binding offers don’t happen in almost all cases until you do your homework. I haven’t read the terms of the offer, but unless the target is in material breach, the acquirer is stuck.

Musk got cute with a quick offer denominated in an amount to signify the dope reference, seemingly over a weekend. The market crashed and he has buyers remorse. Plain and simple.

Now if he can prove false statements in the 10-K, that may change things but I think that’s a stretch. We’ll see, but if $1B is the number for the over/under bet on the cost to walk, I’m taking OVER.

My experience is like yours.

As a public company director I have never and would never approve a “binding offer” until long after the teams have been through the data rooms and all material due diligence. Otherwise it simply is not a “binding offer”, it is a preliminary offer or indicative offer subject to due diligence.

Shareholder suits against directors are really a pain. Why engage knowingly in acts that would not be covered in Delaware law under the business judgement rule?

The winners in this deal are now going to be the lawyers. Those guys are going to make some bank.

 

[lbhsbz]

I think 'ol Elon has a raging case of A.D.D.

He tweets and markets react, not cool. What happened to responsibility and decorum?

His comments about Tesla plants being "money furnaces" burning billions of dollars just another in his seemingly counterproductive spews.

I'll call him a dumbass when I can afford to launch my own satellites into space....until then, he'll continue to be my hero.

 

[Singleton]

My experience is like yours.

As a public company director I have never and would never approve a “binding offer” until long after the teams have been through the data rooms and all material due diligence. Otherwise it simply is not a “binding offer”, it is a preliminary offer or indicative offer subject to due diligence.

Shareholder suits against directors are really a pain. Why engage knowingly in acts that would not be covered in Delaware law under the business judgement rule?

The winners in this deal are now going to be the lawyers. Those guys are going to make some bank.

100% this ends in a settlement vs court. The breakup fee of $1B is nothing compared to the market value the company has lost. IMO, Musk’s lawyers already know the $1B is gone and the Twitter BoD lawsuit was a reaction to recapture a % of the market value lost. Based on what I have read, both sides have been playing games and Twitter will agree to a new price vs having confidential data being released via discovery and court.

 

[Member: 71]

BTW:
Over 500 to 550 Tesla Car service personal let go, 'schedule service' selection has disappeared from the app and customer service shrunk and no one answer the phone to schedule service.

Might want to refresh or update your app.
No issues on my end.

 

[caribbean20]

100% this ends in a settlement vs court. The breakup fee of $1B is nothing compared to the market value the company has lost. IMO, Musk’s lawyers already know the $1B is gone and the Twitter BoD lawsuit was a reaction to recapture a % of the market value lost. Based on what I have read, both sides have been playing games and Twitter will agree to a new price vs having confidential data being released via discovery and court.

Interesting, do you really think Twitter is playing ANY games when they know the stakes are so high? I guess if they really do have skeletons in their closet that are that bad, but they are a public company with severe penalties for the officers for false statements in their 10-K. You know, that whole Sarbanes-Oxley thing.

My back of the envelope read is that Musk executed a purchase agreement with NO INSPECTION CONTINGENCY. Like buying a house without the customary inspection contingency. Some people do it in a hot market, but they are stuck if they try to walk.

I agree this will likely end in a settlement before court, but Musk is back peddling on this one if my understanding is correct.

 

[530RL]

100% this ends in a settlement vs court. The breakup fee of $1B is nothing compared to the market value the company has lost. IMO, Musk’s lawyers already know the $1B is gone and the Twitter BoD lawsuit was a reaction to recapture a % of the market value lost. Based on what I have read, both sides have been playing games and Twitter will agree to a new price vs having confidential data being released via discovery and court.

Yes, very rarely does anyone go to trial.

The dance will cost millions in legal fees and take management focus away from the business, then a settlement will be worked out amongst the lawyers while they have a cocktail after their class reunion.

Same shit different day.

For me this falls squarely on the shoulders of the BOD. They should have never taken an offer or even worked on a PSA with an individual who puts 420 purposely in the offer. What a bunch of dopes.

If I was on the independent committee formed when he launched his public stuff, I would have told him to make a public tender for control. He already had 9.9%. Let him be responsible to the shareholders for that business model once he buys enough for a change of control. And all the employees could have marched off with their accelerated vesting or chosen to stay with their accelerated vesting. If played smart, they could have hung the future of that business model on Elon and walked away rich while he held the bag. They fucked up a perfect opportunity to declare victory and let everyone freely decide whether to cash out or let it ride on the 420 express.

 

[caribbean20]

Yes, very rarely does anyone go to trial.

The dance will cost millions in legal fees and take management focus away from the business, then a settlement will be worked out amongst the lawyers while they have a cocktail after their class reunion.

Same shit different day.

For me this falls squarely on the shoulders of the BOD. They should have never taken an offer or even worked on a PSA with an individual who puts 420 purposely in the offer. What a bunch of dopes.

If I was on the independent committee formed when he launched his public stuff, I would have told him to make a public tender for control. He already had 9.9%. Let him be responsible to the shareholders for that business model once he buys enough for a change of control. And all the employees could have marched off with their accelerated vesting or chosen to stay with their accelerated vesting. If played smart, they could have hung the future of that business model on Elon and walked away rich while he held the bag. They fucked up a perfect opportunity to declare victory and let everyone freely decide whether to cash out or let it ride on the 420 express.

Agreed, but can you imagine the hand wringing and cover your ass proclamations by Musk’s lawyers when he made this hair brained offer.

 

[Wedgy]

I'll call him a dumbass when I can afford to launch my own satellites into space....until then, he'll continue to be my hero.

Elon's going to be fine. The more he pisses people off, the more I like him. Does what he wants, tells it like it is. He's a Savage and he does not care about feelings. Inspirational. Role Model. Titan and Hero of Business and the Left just can't stand it. Dude needs a Cape and a shirt with a Red S.

I'd drive around the block just to get another look at a DCB sitting outside before I hit the 67. IDK if Elon is into fast boats, Mercury could have sold a million outboards with that picture of Mom sitting on one, so safe to say he was drug behind a boat a time or two as a Kid.

Take a look at Elon talking about his Rocket hobby. Way beyond hooked. We are into boats. Looking for MPH. Elon's Kids can ride into Outer Space.

 

[The Prisoner]

Trump offers scathing rebuke of Elon Musk during Alaska rally with Sarah Palin: 'He’s another bull---- artist'

Former President Donald Trump rebuked Elon Musk during a rally in Anchorage, Alaska, where he also endorsed U.S. Senate candidate Kelly Tshibaka and congressional candidate Sarah Palin.

www.foxnews.com

 

[lbhsbz]

Trump offers scathing rebuke of Elon Musk during Alaska rally with Sarah Palin: 'He’s another bull---- artist'

Former President Donald Trump rebuked Elon Musk during a rally in Anchorage, Alaska, where he also endorsed U.S. Senate candidate Kelly Tshibaka and congressional candidate Sarah Palin.

www.foxnews.com

He’s just bitter because he only has an old plane and Musk has rockets.

 

[MSum661]

I'll call him a dumbass when I can afford to launch my own satellites into space....until then, he'll continue to be my hero.

The Liberals are mad that an African man can have so much influence and achieve more than any other human on this planet ever has.

The current P/E ratio on this pig is at about 40x earnings. Even at $33.00 PPS today the valuation of this garbage is at about 3 times over what its actually worth.
Closer to $11.00 PPS or $8 Billion market cap. The insiders should work something out with Musk first before twitter lands up like the next Enron.
They can't beat him in front of a judge.

 

[rivrrts429]

Elon has surrounded himself with some of the most intelligent people on this planet today. He’s arguably the most powerful business man of our lifetime. That doesn’t happen by luck. It’s deliberate and intentional and business execs at that level operate like savages. They laugh at millionaires. Their number begins with a “B”.

It wouldn’t surprise me if our government is pulling way more levers within that organization than we truly realize. Twitter could easily influence an entire societies thought overnight and hide those thoughts they don’t want posted. It’s all smoke and mirrors IMO which is why the founder hightailed it out of the place. Once that curtain is pulled back it’ll get crazy ugly. I don’t think they have ever made a single dollar and it’s hedging millions every month. Not a single business man/woman would let that continue for a day if it weren’t for some incredible outside influences continually propping it up.

Elon is staring at Twitter with the grenade pin already pulled. It’ll be interesting if they want to commit suicide and press him

 

[Cole 392]

 

[EmpirE231]

Twitter down over 11% today

$39/share Thurs
$37/share Fri
$32/share Mon

 

[HALLETT BOY]

I'll call him a dumbass when I can afford to launch my own satellites into space....until then, he'll continue to be my hero.

That’s quote of the month material right there !

 

[Englewood]

Elon offers to buy Twitter
Twitter Accepts
Twitter won't release BOT info
Twitter sues


Now they'll have to provide bot info LMAO

 

[OC Mike]

Most of this stuff is above my head. But it is fun to watch.
It's like watching an adult negotiate with children.
It appears Twitter is run by a bunch of neophyte dweebs, who don't know business, and think they are more imprtant than they are.
Can't wait for the next chapter....

 

[OC Mike]

Trump offers scathing rebuke of Elon Musk during Alaska rally with Sarah Palin: 'He’s another bull---- artist'

Former President Donald Trump rebuked Elon Musk during a rally in Anchorage, Alaska, where he also endorsed U.S. Senate candidate Kelly Tshibaka and congressional candidate Sarah Palin.

www.foxnews.com

It saddend me when I saw that.
Twitter had a big hand in the 2020 election with controlling the narrative.
It appears Elon has taken it upon himself to right this wrong.
He is singlehandedly diassembling Twitter and making them irrevalant.

 

[regor]

Twatter is and always has been CIA, Jeff is a butt hurt tool.

 

[Danger Dave]

https://twitter.com/i/web/status/1546507320649211906

 

[The Prisoner]

 

[BingerFang]

Musk used Twitter’s own platform to drive the company off a cliff. God Bless America and Elon Musk!

 

[SBMech]

Twatter is and always has been CIA, Jeff is a butt hurt tool.

Lol every single quasi-intellectual fucking moron thinks they are holier than thou, Musk owns them all.

I have always thought that twatter was a society influencing tool propped up by the new world order fucktards, nice to finally see proof.

He's going to cause them to fold in court, no way the three letter agencies are going to allow the knowledge that media is %100 controlled, 1984 in reality.

 

[Danger Dave]

https://twitter.com/i/web/status/1546963794215272451