From what I understand, musk's pull out game is weak. Twitter might win against him in the lawsuit.
Musk strikes a deal for twitter
- Thread starter Emrebel
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bssunilreddy
Skilled
Elon Musk retreating from the Twitter deal is all political I think or to make the Twitter shares fall.
Previously media portrayed him as he went for the deal in support of Trump but now all is clear right.
Trump and Elon Musk is fighting like on either sides means this deal is all political make up.
Previously media portrayed him as he went for the deal in support of Trump but now all is clear right.
Trump and Elon Musk is fighting like on either sides means this deal is all political make up.
blr_p
Skilled
Musk is only interested in his business. Whatever is good for it he will do. I don't know where he was going with the Twitter thing?
The thing with guys like him is they will take a chance and if not no big deal. Twitter can't force him to buy.
Many hate Trump because he does not play ball with the deep state. He has his own ideas and not some rubber stamp they expect POTUS to be.As for Trump, world would need loads and loads of pop corns, should be betting on corn futures now
One thing about the whole election episode after Trump entered the run is that, the process exposed how murky and low the political system there is, to world to see. Probably the reason why many hate him, exposes their nasty side to the entire world.
Putin is hated for a similar reason. He stopped the looting of his country by the west.
Small wonder the two respect each other. Both are nationalists.
blr_p
Skilled
ok, so since he backed out, Twitter sued him and now he is saying ok he will buy Twitter at the price he offered. Suit is dropped. So this was the thing he was building publicity for with his recent Ukraine tweets.
www.hindustantimes.com
All said and done: This is how Elon Musk will pay $44 billion for Twitter
Elon Musk Twitter Deal: Elon Musk had said that he would buy Twitter for $54.20 per share- the price which was agreed in April.
Indeed, he saw the light
The latter I think. Being a businessman this stunt was just to lower the buying price. Didn't work.
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blr_p
Skilled
Always felt this topic got hijacked the moment it became news.
Musk is a businessman, he gets into it because he sees the chance to turn a profit. There is no ideology involved. If he fans the flames it is with the express intent to buoy the price.
These days woke is going out of business. Trevor Noah got fired from Comedy Central recently. Because in the seven years he worked there viewership declined from a high of 1.2million all the way down to 300k. The saying, go woke, go broke applies. So Musk is going to play up the opposite. Twitter is a 7k+ employee outfit. They are hiring and want to grow to 11k. Job applications to Twitter are up 250% which is the highest this company has ever seen.
To give a domestic example of how businessmen are. Ambani owns News 18 Tamil. This is a channel that plays to the DMK party and the commies. Does Ambani know or even care? No! so long as the cash flows are working.
Musk is a businessman, he gets into it because he sees the chance to turn a profit. There is no ideology involved. If he fans the flames it is with the express intent to buoy the price.
These days woke is going out of business. Trevor Noah got fired from Comedy Central recently. Because in the seven years he worked there viewership declined from a high of 1.2million all the way down to 300k. The saying, go woke, go broke applies. So Musk is going to play up the opposite. Twitter is a 7k+ employee outfit. They are hiring and want to grow to 11k. Job applications to Twitter are up 250% which is the highest this company has ever seen.
To give a domestic example of how businessmen are. Ambani owns News 18 Tamil. This is a channel that plays to the DMK party and the commies. Does Ambani know or even care? No! so long as the cash flows are working.
Elon Musk is under federal investigations, Twitter says in court filing
www.reuters.com
Elon Musk is under federal investigations, Twitter says in court filing
Elon Musk is being investigated by federal authorities over his conduct in his $44 billion takeover deal for Twitter Inc , the social media company said in a court filing released on Thursday.
blr_p
Skilled
Do remember he wanted to walk away until twitters owners sued him and said he had to pay up.
But tesla is environmentally friendly is it not? another matter is that Tesla has yet to show a profit and is completely overpriced for what it is.
The only time people want something to crash is they want a share of it but at a lower price.
Musk will not become like Jack Ma
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Tesla stock is highly overpriced. Everyone is shorting it these day.
Mr.J
Skilled
Good. He has already crossed paths with SEC once before. Hopefully he's raked over coals now.Elon Musk is under federal investigations, Twitter says in court filing
Elon Musk is under federal investigations, Twitter says in court filing
Elon Musk is being investigated by federal authorities over his conduct in his $44 billion takeover deal for Twitter Inc , the social media company said in a court filing released on Thursday.
blr_p
Skilled
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Twitter has lot of skeletons in their closet. So twitter is delaying the deal at least until mid term elections the end of this year. Everyone knows new twitter will unban many. Is it that difficult to see?
blr_p
Skilled
Why sue him man? Why didn't the deep state catch that one?
he walked away
Either he can or cannot buy Twitter. So which is it to be
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ajithakumar
Recruit
SEBI (Substantial acquisition of shares and Takeover) regulation requires the acquirer to make a public announcement if he wishes to acquire shares beyond 2% in a year if he already holds 25% shares of a company. So, he either has to acquire more than 10%/ 25% by making a public announcement or acquire upto 2% a year through the stock market or from other investors (like mutual fund or venture capitalist etc.). If a similar law exists in the US, Twitter has the right to sue Elon for not honoring the deal as it looks like he already made a public announcement for acquiring Twitter.
Other news: The rumors of acquisition we heard on the news (like when tata acquired big basket and Reliance acquired Future Retail) way before the actual acquisition happened was mostly when acquiring company does due diligence work to see the viability of acquiring the target. Due diligence is when the acquirer does a background check on whether it is worth buying the target company or not. Companies can back out after due diligence but not after making a public announcement.
Reason for the said regulation: This law was brought it force because after 25% holding, the shareholder has significant influence over the decisions of the company (they are called associate/ associate company in Companies act) and those who are not in favor of working with the associate are given an exit opportunity. Hence, public announcement is required.
TL;DR: Elon holds substantial financial interest in Twitter and has made a public announcement for acquiring Twitter. If he does not buy shares as mentioned in public announcement, he will either be fined or will be required to buy the shares.
Disclaimer: All these are based on an assumption that SEC has similar laws/ regulation as that of SEBI (India). I have not read SEC rules or regulation and don't know what exactly is considered as public announcement for the purposes of SEC rules/ regulations.
blr_p
Skilled
All this legal to and fro is going to take time. Nothing moves forward until there is some clarity here. How long ? months. heh
Long enough for the price to drop further? If he has committed to a certain price then the price drop is going to be a loss unless he gets twitter to settle.
At this point they will take anything they get.