tech

Musk offers to close Twitter buyout deal at original price

24 Comments
By Glenn CHAPMAN

The requested article has expired, and is no longer available. Any related articles, and user comments are shown below.

© 2022 AFP

©2022 GPlusMedia Inc.


24 Comments
Login to comment

This man is not all there

2 ( +3 / -1 )

Hmmmm... a lot of people agree after some of his more recent ramblings.

2 ( +2 / -0 )

Never could comprehend the attraction of Twitter.

5 ( +5 / -0 )

Good. Without new blood, Twitter will die off anyway. A platform that censors anyone who contradicts those in power is only useful to those in power. And even the CIA only has so much money.

-4 ( +1 / -5 )

I think that Musk realized he was not going to win that trial," University of Richmond law professor Carl Tobias told AFP. "Ever since he had buyer's remorse, the problem has been why, and why had he not done due diligence up front.

So he was going to lose, have to face embarrassing questions under oath, pay legal fees AND buy the company. So he just bought the company.

Translation: Elon lost, bigly.

"In effect, Musk will turn Twitter into a fever swamp of dangerous conspiracy theories, partisan chicanery, and operationalized harassment."

Yep, so not so different from one of his companies. Boy, I bet the shareholders will love that.

Of course Don the con will enjoy it and he will can his "lies social" twitter copy and get the validation he so desperately craves. thus screwing all the rubes who were dumb enough to invest in his special purpose company. I want to feel sorry for them, but if they invested in a Trump startup after his history of lies, stiffing his partners and abject failure, they really area fool and their money.

0 ( +2 / -2 )

those bots sure are getting purged now before Elon can get in there and see for himself.

I dont want @realdonaldtrump to return- but I do want to see the liberal reaction if he does.

the whining and crying will be epic.

All the people who promised to move to Canada in 2016 are already claiming they will delete their accounts if Musk takes over.

Please do (and keep your moving promise too)

-4 ( +3 / -7 )

Musk screwed up by letting himself get caught up in a Twitter war and allowing his ego talk him into buying Twitter without doing due diligence on it. It was a major business mistake no matter which way you cut it. Hopefully it works out well for him in the long term, as I like the guy, but no one objective that understands business would call this anything other than amateur. Who agrees to buy a multi-billion dollar business without doing due diligence?

3 ( +3 / -0 )

no one objective that understands business would call this anything other than amateur. 

He's the world's richest man. Some amateur.

-5 ( +0 / -5 )

Musk was waiting until he had all his bots in a row.

1 ( +2 / -1 )

SOMEONE was claiming that this was Elon playing 3-D chess to acquire the company at a discount.

Filed a law suit, tried to drag it out, got denied, gave up.

He check-mated himself in 2 moves.....

3 ( +3 / -0 )

And the stock immediately goes up to the price he paid so what does it matter?

It’s now “worth” whatever he paid and he owns it to do with whatever he wishes.

win win.

-7 ( +0 / -7 )

He's the world's richest man. Some amateur.

I didn't say he is amateur, I said letting his ego drag him into a multi-billion dollar purchase without due diligence is amateur.

6 ( +6 / -0 )

Which has zero to do about whether he should use the Twitter platform again or not.

Ok election denier.

4 ( +4 / -0 )

And the stock immediately goes up to the price he paid so what does it matter?

Apart from once again proving that you have no ability to predict these matters, it matters not.

So, win win win.

2 ( +2 / -0 )

LOL!!!

This is very amusing! I remember when some of the usual trolls were bashing Twitter, saying that Musk would win in court despite him not performing due diligence, and now, it's Musk asking to end the trial and saying he is going to do what he initially agreed to. Amazingly enough, I believe his lawyers recognized that they lost a key ruling and were going to lose in court, along with a lot of potentially info coming out...publicly.

Twitter could continue the lawsuit, take their 1 billion, expose Musk or blackmail him, and walk away from the deal!

1 ( +2 / -1 )

Like he cares about the money. This will now be a good ego trip for him. And maybe he will make the whole sorry mess better.

-2 ( +0 / -2 )

Getting interesting

-2 ( +0 / -2 )

I wonder... now really, just wondering, it's just a thought, and isn't based of any fact, other than a thought.....

By depressing the share price of the Company he wanted to buy, could he have entered into an OTC forward purchase agreement with multiple friendly entities, to purchase their stock holdings at a then more favorable price and as such, reduce the total cost of buying the company now ? Those entities could have all each purchased a large quantity of the stock, though under the reportable percentage, and now, with the acquisition being confirmed, Musk simply pays them the pre-agreed price to those friendly entities, and the remainder of the stock at the agreed price - thus reducing the overall cost of the take-over....

Anyway, I've probably overlooked something, it's been a while.

0 ( +1 / -1 )

By depressing the share price of the Company he wanted to buy, could he have entered into an OTC forward purchase agreement with multiple friendly entities, to purchase their stock holdings at a then more favorable price and as such, reduce the total cost of buying the company now ? Those entities could have all each purchased a large quantity of the stock, though under the reportable percentage, and now, with the acquisition being confirmed, Musk simply pays them the pre-agreed price to those friendly entities, and the remainder of the stock at the agreed price - thus reducing the overall cost of the take-over....

Maybe someone who planned it. But Musk let his mouth talk him into the agreement, let and his ego do that without due diligence. Then when he got buyer's remorse, he tried to buy out, but when faced with huge bills from the court challenge that he had pretty much zero chance of winning, he was forced into buying it.

Amateur.

1 ( +1 / -0 )

By depressing the share price of the Company he wanted to buy, could he have entered into an OTC forward purchase agreement with multiple friendly entities, to purchase their stock holdings at a then more favorable price and as such, reduce the total cost of buying the company now ? Those entities could have all each purchased a large quantity of the stock, though under the reportable percentage, and now, with the acquisition being confirmed, Musk simply pays them the pre-agreed price to those friendly entities, and the remainder of the stock at the agreed price - thus reducing the overall cost of the take-over....

Maybe the plan was to be able to manipulate the price to get Twitter at a discount.

However, because the trial judge ruled that Twitter could continue discovery, Twitter's lawyers were likely to find out that the "whistleblower" that Musk alleges was feeding him info about Twitter's misconduct was a lie to manipulate Twitter's stock price.

That would cost him more than $44B.

1 ( +1 / -0 )

My guess is the deal is looking further and further away from Musk's grasp, and why he sent his latest letter. Remember Musk's intention/motive is not money per se, but democracy and free speech.

I want him to buy TWTR (and I would guess so do other TWTR shareholders) but each and every step along the way, it's being road blocks after roadblocks from Agrawal and the TWTR board. I can only assume they DON'T want Musk to control TWTR before the mid terms election.

0 ( +0 / -0 )

My guess is the deal is looking further and further away from Musk's grasp, and why he sent his latest letter. Remember Musk's intention/motive is not money per se, but democracy and free speech.

Musk's intention was to not buy Twitter, and has spent the past six months trying to get out of it, so your comment doesn't ring with the reality of the situation.

1 ( +1 / -0 )

Remember Musk's intention/motive is not money per se, but democracy and free speech.

That's rich. He cares about Democracy, free speech, etc. as much as he cares about worker's rights or monogomy.

0 ( +0 / -0 )

Musk senses that he's gonna lose the court case - he's only using the bot excuse either to get out of the deal he signed onto recklessly, or to drive a lower price since he overpaid by not doing his due diligence in his recklessness

This is gonna seriously strain his financials - he's already been struggling to finance this deal. He can't be so reckless anymore with his actions, like his tweets that cost him SEC violation fees. He can't afford those anymore; he's not gonna be able to fund big losses

Also, he's now gonna be on the direct firing line in many countries, being the owner of an international social media service. Many countries in the world have each their own standards for social media. Remember, lawmakers around the world regularly calls out the heads of social media companies

0 ( +0 / -0 )

Login to leave a comment

Facebook users

Use your Facebook account to login or register with JapanToday. By doing so, you will also receive an email inviting you to receive our news alerts.

Facebook Connect

Login with your JapanToday account

User registration

Articles, Offers & Useful Resources

A mix of what's trending on our other sites