Elon Musk agrees to proceed with Twitter acquisition at original price
- Thread starter Tudor Cibean
- Start date
ZedRM
Posts: 2,885 +1,905
You say that like it's a bad thing..
captaincranky
Posts: 20,144 +9,151
Well. I've put off joining Twitter, in fact I've avoided it altogether. Now I have the best reason ever to validate that decision
captaincranky
Posts: 20,144 +9,151
Since you brought politics into this, maybe they're the same people who voted for Ron DiSantis, who now has to beg "Brandon" for help.
Rudyduu
Posts: 895 +748
You shouldn't put people on a pedestal.
PEnnn
Posts: 1,285 +1,854
He has a plan!!. I bet it's a similar plan to your hero's, the Orange Buffoon's plan for COVID: "It's like the flu, it will be gone in a few days...."
He is a fat cat coward and was afraid to lose in court, bigly!! Just like the Orange Buffoon.
Alfatawi Mendel
Posts: 316 +522
Elon meets reality....
ZedRM
Posts: 2,885 +1,905
That makes no sense whatsoever!
Yeah, shouldn't have done that. I'm sorry.
My hero? What are you, blind? What did I just say a few comments above? It's a thinker..
Ohnooze
Posts: 815 +1,549
I'm assuming that you're talking about the hurricane Ivan that hit Florida.
Uhhh...it's declared national emergency. It's not about begging Biden but about helping people who need it. Wow...what a ridiculous take on the situation. Maybe get away from partisan politics for a bit.
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captaincranky
Posts: 20,144 +9,151
I have the sneaking suspicion that this is the reason Musk offered to buy Twitter to begin with. So he could kick back, like Zeus on Olympus and watch as we mortals bicker like alley cats, laughing the entire time. You know, sort of like the way it is here at Techspot, except bigger, much, much, bigger..
AlaskaGuy
Posts: 868 +848
Freedom of speech is a good thing imo.I have the sneaking suspicion that this is the reason Musk offered to buy Twitter to begin with. So he could kick back, like Zeus on Olympus and watch as we mortals bicker like alley cats, laughing the entire time. You know, sort of like the way it is here at Techspot, except bigger, much, much, bigger..
captaincranky
Posts: 20,144 +9,151
I agree. But, an excess of it on Twitter could be something akin to yelling "FIRE", in a crowded movie theater.
Rudyduu
Posts: 895 +748
He doesn't have a plan. He changed his mind about buying Twitter after he made them an offer and both parties agreed to it. There was nothing to gain by refusing the buy after signing the agreement since it was binding and since he passed on due diligence. Everyone makes mistakes, but it's easier to see the mistakes of people who are so publicized. This wasn't part of a master plan it was a mistake.
I'm fairly certain the people who have made Twitter as successful as it's been know more about the business and its issues than Elon does.
captaincranky
Posts: 20,144 +9,151
I beg to differ. Musk had a plan, which was to start as much sh!t as possible on the platform, under the guise of, "free speech".
BTW, he's now back in "negotiations" with Twitter, which has achieved his goal of postponing his trial deposition. Stalling admirably, in the manner of he who shall remain nameless.
Basically, this is possibly Musk doing what he does best, di*king around with stock prices via rumor and innuendo, just enough to not get pounced on by the SEC.
He's good at deflection. For example, Tesla lost 1/4 billion in one quarter, while he's giving a press conference announcing his (on paper) design, for a space suit. It smacked of CIG selling jpegs of potential spacecraft at 1K a pop.
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Rudyduu
Posts: 895 +748
What is Elon gaining by drawing up a proposal to buy Twitter, then having both parties agree to it, crapping on the company after refusing to buy it? Musk put himself in a position he couldn’t get out of. There is no strategy to it.
captaincranky
Posts: 20,144 +9,151
I should have been more specific. My (uneducated) guess would be that he's waiting for the excitement to kick in and up the stock price. That way, he can save face, and make it appear that he's, "getting his money's worth", as opposed to the tar pit which he inadvertently wandered into.
Twitter stock did tank, when he originally tried to pull out of the deal.
Rudyduu
Posts: 895 +748
Twitter’s stock price dropped after Elon posted Tweets crapping on Twitter. He posted about how he wanted to buy Twitter to fix all the bots, then after proposing a deal and having both parties sign it he changed his mind and started complaining about all the bots. First he wanted to fix the bots then he didn’t want any bots. Don’t forget Elon went to Twitter with an amazing deal that Amazon couldn’t refuse and both parties signed the purchase agreement forgoing due diligence on Elon’s part. Amazon did not go to Elon asking him to buy them. It was Elon who put himself in this entire situation.
captaincranky
Posts: 20,144 +9,151
Perhaps I should have simplified my POV, as well as been more specific,
First of all, I've never said that it wasn't Musk that got himself into this mess, nor did I ever imply that,.Full stop.
As I stated above, "as opposed to the tar pit which he inadvertently wandered into".
La Brea Tar Pits - Wikipedia
Second, if he delays the deal until the stock price rises, then his public perception will be, "Musk is a nice guy for giving stockholders a bit more than the current price". As opposed to buying when the stock is down, at which point public perception would be, "Musk is an imbecile who really got screwed over on that deal".
When the uncertainties, hostilities, and litigation abate, Twitter stock should rally somewhat. That's when the deal will likely take place. (Although, in this bear market, who the hell knows what tomorrow will bring).
Your syntax here is somewhat ambiguous:
. "Amazon did not go to Elon asking him to buy them"..
As rich as Musk is, he couldn't afford to buy Amazon, even if he wanted to. Thus, the pronoun "them" is inappropriate. Since in this context, it would refer back to the subject of the sentence, which is Amazon..
Now please, go impart the largess of your "wisdom", on another, more worthy member, than me.
ZedRM
Posts: 2,885 +1,905
You're leaving something important out. Fixed that for you.
Rudyduu
Posts: 895 +748
I mistyped Amazon while I was walking and typing on my phone, but in context anyone could clearly see it was a mistake. There is no need for your snarky response.Perhaps I should have simplified my POV, as well as been more specific,
First of all, I've never said that it wasn't Musk that got himself into this mess, nor did I ever imply that,.Full stop.
As I stated above, "as opposed to the tar pit which he inadvertently wandered into".
La Brea Tar Pits - Wikipedia
en.wikipedia.org
Second, if he delays the deal until the stock price rises, then his public perception will be, "Musk is a nice guy for giving stockholders a bit more than the current price". As opposed to buying when the stock is down, at which point public perception would be, "Musk is an imbecile who really got screwed over on that deal".
When the uncertainties, hostilities, and litigation abate, Twitter stock should rally somewhat. That's when the deal will likely take place. (Although, in this bear market, who the hell knows what tomorrow will bring).
Your syntax here is somewhat ambiguous:
. "Amazon did not go to Elon asking him to buy them"..
As rich as Musk is, he couldn't afford to buy Amazon, even if he wanted to. Thus, the pronoun "them" is inappropriate. Since in this context, it would refer back to the subject of the sentence, which is Amazon..
Now please, go impart the largess of your "wisdom", on another, more worthy member, than me.
The whole point of me saying it’s all his fault is in response to you saying he “inadvertently” walked into anything. He purposefully walked into the tar I’ll say it again: he proposed the offer without due diligence (that’s the part where data about an acquisition is gathered) as part of the deal along with the offer being well above the stocks value at $54.20 a share. Read the legal documents submitted by Twitter in Delaware it’s spells everything out.
The whole purpose of my posts was arguing against any of this being part of some clever scheme. He’s being forced to proceed with the deal he created. If he wanted to raise the value of Twitter’s stock he’d need to start making posts about all the great things he’s going to do with Twitter. If he wanted to be perceived as a clever businessman he should have offered market value in the first place or waited until it dropped.
Rudyduu
Posts: 895 +748
No you missed the part where he gave up due diligence in the offer he made. That’s the part where he gets to ask questions about the business then change his mind. He posted he wanted to get rid of all the bots before making the offer and all the sudden he doesn’t want any bots after making a deal for $44 billion?
ZedRM
Posts: 2,885 +1,905
News flash for you, contract law doesn't work that way..
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