Elon Musk notifies Twitter he is terminating deal

Topics, links and pics that are interesting, weird, or irrelevant!
User avatar
Mr. X
Millenium Member
Millenium Member
Posts: 4561
Joined: 11 years ago

Elon Musk notifies Twitter he is terminating deal

Post by Mr. X »

https://www.cnbc.com/2022/07/08/elon-mu ... -deal.html
Billionaire Elon Musk wants to end his deal to buy Twitter, according to a letter sent by a lawyer on his behalf to the company’s chief legal officer Friday.

Twitter shares were down about 5% after hours on Friday.

In the letter, disclosed in a Securities and Exchange Commission filing, Skadden Arps attorney Mike Ringler charged that “Twitter has not complied with its contractual obligations.”

Ringler claimed that Twitter did not provide Musk with relevant business information he requested, as Ringler said the contract would require. Musk has previously said he wanted to assess Twitter’s claims that about 5% of its monetizable daily active users (mDAUs) are spam accounts.

“Twitter has failed or refused to provide this information,” Ringler claimed. “Sometimes Twitter has ignored Mr. Musk’s requests, sometimes it has rejected them for reasons that appear to be unjustified, and sometimes it has claimed to comply while giving Mr. Musk incomplete or unusable information.”

Ringler also charged in the letter that Twitter breached the merger agreement because it allegedly contains “materially inaccurate representations.” This accusation is based on Musk’s own preliminary review of spam accounts on Twitter’s platform. Twitter has said it’s not possible to calculate spam accounts from solely public information and that a team of experts conducts a review to reach the 5% figure.

“While this analysis remains ongoing, all indications suggest that several of Twitter’s public disclosures regarding its mDAUs are either false or materially misleading,” Ringer alleged.
User avatar
Heroine Addict
Millenium Member
Millenium Member
Posts: 1970
Joined: 12 years ago

Re: Elon Musk notifies Twitter he is terminating deal

Post by Heroine Addict »

"WTF?! This social media site is infested with bots? The deal's off!"

Maybe he isn't some sort of a real life Tony Stark, after all.
"A brass unicorn has been catapulted across a London street and impaled an eminent surgeon. Words fail me, gentlemen."
User avatar
Mr. X
Millenium Member
Millenium Member
Posts: 4561
Joined: 11 years ago

Re: Elon Musk notifies Twitter he is terminating deal

Post by Mr. X »

Well Twitter just filled a suit in Delaware suing Musk. By all means open up discovery. I hope twitter's advertisers sue cause of the bots.
User avatar
sugarcoater
Millenium Member
Millenium Member
Posts: 1189
Joined: 15 years ago

Re: Elon Musk notifies Twitter he is terminating deal

Post by sugarcoater »

Heroine Addict wrote: 1 year ago "WTF?! This social media site is infested with bots? The deal's off!"

Maybe he isn't some sort of a real life Tony Stark, after all.
Arguably, this may be what a Tony Stark character would do: be snarky in forcing a company to expose its weaknesses. Didn’t Stark do something like that in Iron Man 2?

“[Stark] then proves that other attempts by foreign powers to duplicate the Iron Man suit have failed miserably and also embarrasses corporate rival Justin Hammer, who had testified against him, by showing he had also made a bungled attempted at creating a prototype.”
Ignore any virtue-signaling; it's clearly just you.

Ignore any activism; it clearly doesn't exist.

Be very careful!
Don't be indoctrinated!
Ignore your common sense!

Everything is entirely normal and ignore the radical changes to culture.
User avatar
Mr. X
Millenium Member
Millenium Member
Posts: 4561
Joined: 11 years ago

Re: Elon Musk notifies Twitter he is terminating deal

Post by Mr. X »

Hey Heroine Addict - you have anymore products coming out? Loved your Wonder Woman/Minotaur product
User avatar
sugarcoater
Millenium Member
Millenium Member
Posts: 1189
Joined: 15 years ago

Re: Elon Musk notifies Twitter he is terminating deal

Post by sugarcoater »

Further thought suggested by finance analysts: Musk did all this to sell Tesla stock without tanking the stock. Claim the need to liquidate Tesla stock to prepare for a deal with Twitter, then find a plausible reason to not buy Twitter. Just another theory and one I thought was interesting.
Ignore any virtue-signaling; it's clearly just you.

Ignore any activism; it clearly doesn't exist.

Be very careful!
Don't be indoctrinated!
Ignore your common sense!

Everything is entirely normal and ignore the radical changes to culture.
Visitor
Legendary Member
Legendary Member
Posts: 921
Joined: 14 years ago

Re: Elon Musk notifies Twitter he is terminating deal

Post by Visitor »

Musk offered a high price and now that the market is falling he can renegotiate at a much lower one.

After all his excuse is based on statistical analysis of data and not exact numbers. Both sides can claim they are right without proof.
User avatar
sugarcoater
Millenium Member
Millenium Member
Posts: 1189
Joined: 15 years ago

Re: Elon Musk notifies Twitter he is terminating deal

Post by sugarcoater »

The whole situation seems a bit off with many employees at Twitter claiming they would quit if Musk bought the company, then the company higher-ups now insisting Musk buy the company.
Ignore any virtue-signaling; it's clearly just you.

Ignore any activism; it clearly doesn't exist.

Be very careful!
Don't be indoctrinated!
Ignore your common sense!

Everything is entirely normal and ignore the radical changes to culture.
Visitor
Legendary Member
Legendary Member
Posts: 921
Joined: 14 years ago

Re: Elon Musk notifies Twitter he is terminating deal

Post by Visitor »

The higher up employee all have stock or options that are losing value compared to the much higher price for the takeover. Besides most of them are ready to take the money and run.
User avatar
sugarcoater
Millenium Member
Millenium Member
Posts: 1189
Joined: 15 years ago

Re: Elon Musk notifies Twitter he is terminating deal

Post by sugarcoater »

Visitor wrote: 1 year ago The higher up employee all have stock or options that are losing value compared to the much higher price for the takeover. Besides most of them are ready to take the money and run.
Having no conversation with those people, I can only guess their response. I don’t know how affected these people are by their woke employees or if they are also part of the woke crew that is whimsically anti-Musk.
Ignore any virtue-signaling; it's clearly just you.

Ignore any activism; it clearly doesn't exist.

Be very careful!
Don't be indoctrinated!
Ignore your common sense!

Everything is entirely normal and ignore the radical changes to culture.
User avatar
Heroine Addict
Millenium Member
Millenium Member
Posts: 1970
Joined: 12 years ago

Re: Elon Musk notifies Twitter he is terminating deal

Post by Heroine Addict »

Mr. X wrote: 1 year ago Hey Heroine Addict - you have anymore products coming out? Loved your Wonder Woman/Minotaur product
That's another Heroine Addict. I'm fairly sure he used to post here under the name Leadpoison.
"A brass unicorn has been catapulted across a London street and impaled an eminent surgeon. Words fail me, gentlemen."
User avatar
Heroine Addict
Millenium Member
Millenium Member
Posts: 1970
Joined: 12 years ago

Re: Elon Musk notifies Twitter he is terminating deal

Post by Heroine Addict »

sugarcoater wrote: 1 year ago
Heroine Addict wrote: 1 year ago "WTF?! This social media site is infested with bots? The deal's off!"

Maybe he isn't some sort of a real life Tony Stark, after all.
Arguably, this may be what a Tony Stark character would do: be snarky in forcing a company to expose its weaknesses. Didn’t Stark do something like that in Iron Man 2?

“[Stark] then proves that other attempts by foreign powers to duplicate the Iron Man suit have failed miserably and also embarrasses corporate rival Justin Hammer, who had testified against him, by showing he had also made a bungled attempted at creating a prototype.”
I don't think anyone was ever in any doubt that Twitter has a lot of bots. It just seems like a weak excuse to back out of the deal. Besides, the US Supreme Court has ruled that corporations are just exercising free speech by giving massive donations (bribes) to politicians. So a business paying to have a load of their own bots on the platform is just an exercise of free speech, which Elon supposedly likes.*


*Free speech not extended to trade unionists and Tesla whistleblowers.
"A brass unicorn has been catapulted across a London street and impaled an eminent surgeon. Words fail me, gentlemen."
User avatar
Mr. X
Millenium Member
Millenium Member
Posts: 4561
Joined: 11 years ago

Re: Elon Musk notifies Twitter he is terminating deal

Post by Mr. X »

Heroine Addict wrote: 1 year ago
sugarcoater wrote: 1 year ago
Heroine Addict wrote: 1 year ago "WTF?! This social media site is infested with bots? The deal's off!"

Maybe he isn't some sort of a real life Tony Stark, after all.
Arguably, this may be what a Tony Stark character would do: be snarky in forcing a company to expose its weaknesses. Didn’t Stark do something like that in Iron Man 2?

“[Stark] then proves that other attempts by foreign powers to duplicate the Iron Man suit have failed miserably and also embarrasses corporate rival Justin Hammer, who had testified against him, by showing he had also made a bungled attempted at creating a prototype.”
I don't think anyone was ever in any doubt that Twitter has a lot of bots. It just seems like a weak excuse to back out of the deal. Besides, the US Supreme Court has ruled that corporations are just exercising free speech by giving massive donations (bribes) to politicians. So a business paying to have a load of their own bots on the platform is just an exercise of free speech, which Elon supposedly likes.*


*Free speech not extended to trade unionists and Tesla whistleblowers.
But they are lying to advertisers who expect ads to reach real users and not bots.
Damselbinder

Re: Elon Musk notifies Twitter he is terminating deal

Post by Damselbinder »

"Which corporate megalith is most bad"

fuck them both

Who is online

Users browsing this forum: CommonCrawl [Bot] and 0 guests