Musk Revives $44 Billion Twitter Bid, Aiming to Avoid Trial

[Goldhedge]

Musk Revives $44 Billion Twitter Bid, Aiming to Avoid Trial

• Legal team for Musk sensed judge would not rule in favor
• Proposal likely eliminates need for court trial this month

By
Jef Feeley,
Ed Hammond, and
Kurt Wagner
October 4, 2022 at 10:08 AM MDTUpdated onOctober 4, 2022 at 5:12 PM MDT
Listen to this article

Elon Musk revived a bid to buy for Twitter Inc. at the original price of $54.20 a share, backtracking on his effort to quit the deal and potentially avoiding a contentious courtroom fight.

Musk made the proposal in a letter to Twitter on Monday, according to a filing with the Securities and Exchange Commission that confirmed a Bloomberg report. Shares of Twitter climbed 22% to $52 at the close in New York. San Francisco-based Twitter said it received the letter and intends to close the deal at the agreed-upon price, without commenting specifically on how it will respond to Musk.

paywall

Musk Revives $44 Billion Twitter Bid, Aiming to Avoid Trial

www.bloomberg.com

 

[Goldhedge]

 

[OldGarandDad]

Musk says he’ll buy as he grabs the rug with both hands ready to pull.

The Twitter board thought they could call Musk’s bluff. They forgot who they are jousting with. Musk must be sitting on something that he’ll replicate Reagan walking away from the table in Iceland in the final negotiations.

 

[Goldhedge]

[Brian Cates on Telegram]

Understand: Twitter's board cannot sell the platform.

They cannot give control of it to an outsider.

And certainly not Elon Musk.

Their gambit to buy time by filing a lawsuit to 'make' Elon complete the purchase was a sham.

And he's still toying with them.

Brian Cates ✪✪✪

Understand: Twitter's board cannot sell the platform. They cannot give control of it to an outsider. And certainly not Elon Musk. Their gambit to buy time by filing a lawsuit to 'make' Elon complete the purchase was a sham. And he's still toying with them.

t.me

[Forwarded from Brian Cates]
It's a hostile takeover.

People imagining the Twitter board is angling to thrust the platform in Elon's hands don't understand what they've been watching.

The lawsuit to 'force' Elon to go through with the sale while the Twitter still hasn't shown him the evidence about the bots was always a sham.

Now he's trapped them again.

"OK, let's go through with it!"

WATCH what the Twitter board does next.

Brian Cates ✪✪✪

It's a hostile takeover. People imagining the Twitter board is angling to thrust the platform in Elon's hands don't understand what they've been watching. The lawsuit to 'force' Elon to go through with the sale while the Twitter still hasn't shown him the evidence about the bots was always...

t.me

 

[Goldhedge]

 

[Goldhedge]

Twitter refuses renewed $44 billion bid, Elon Musk's lawyers say​

Published October 6, 2022

NEW YORK - Elon Musk’s lawyers said Thursday that Twitter is refusing to accept the Tesla billionaire’s renewed $44 billion bid for the social media company and are asking a Delaware court to halt an upcoming trial.

Musk made a renewed offer to take over the social media platform earlier this week, hoping to end a protracted legal dispute that began when Musk tried to back out of the April deal and Twitter sued.

Representatives for Twitter did not immediately respond to messages for comment.

Twitter said earlier this week that it intends to close the deal at the agreed-upon price, but the two sides are still booked for an Oct. 17 trial in Delaware over Musk’s earlier attempts to terminate the deal. On Wednesday, the judge presiding over the case said she will continue to press on toward the trial because, at the time, neither side had formally moved to stop it.

Musk’s attorneys said the trial should be adjourned to leave more time for Musk to secure the financing.

"Twitter will not take yes for an answer," said the court filing signed by Musk attorney Edward Micheletti. "Astonishingly, they have insisted on proceeding with this litigation, recklessly putting the deal at risk and gambling with their stockholders’ interests."

Since Twitter sued Musk to force him to complete the purchase after he tried to back out four months ago, it is unlikely the San Francisco-based company — whose shareholders have voted to approve the deal — will walk away from the agreement.

Rather, it’s likely Twitter is seeking assurances from Musk’s side that this time he’s serious and won’t walk away again.

Eric Talley, a Columbia University law professor, tweeted Thursday that Twitter "is absolutely right not to take ‘yes’ for an answer, and everyone knows why. (They tried that in April and it didn’t go so well)." He added that Twitter would, however, take a "certified bank transfer" from Musk.

Musk attorneys argue that Twitter is disagreeing with the trial delay "based on the theoretical possibility" of Musk not coming up with the financing, which they call "baseless speculation."

They said Musk’s financial backers "have indicated that they are prepared to honor their commitments" and are working to close the deal by Oct. 28, roughly a week after the trial was set to conclude.

Twitter’s shares fell $1.91, or 3.7%, to close at $49.39 on Thursday. It was the stock's second day of declines following a surge of more than 22% on Tuesday after Musk made his renewed offer to buy the company.

Twitter refuses renewed $44 billion bid, Elon Musk's lawyers say

Elon Musk’s lawyers say Twitter is refusing the Tesla billionaire’s renewed $44 billion bid for the social media company and have asked a Delaware court to halt an upcoming trial.

www.fox5dc.com

 

[Goldhedge]

Brian Cates on Telegram

[Forwarded from CognitiveCarbon Public (Cognitive Carbon)]
[ Photo ]
The state of things:
1. Elon to Twitter: "I bought stock in Twitter."
2. {Yawn, both eyes closed}
3. "I bought a lot."
4. {one eye opens}
5. "I bought enough to be a board member"
6. (Twitter, alarmed) "You can't!"
7. Elon: "I want to buy the whole company"
8. Twitter: "you CAN'T!!!"
9. Elon: here's my bid
10. Twitter: We hate it
11. Twitter shareholders: We like it
12. Twitter: OK fine
13. Elon: Too many bots. I'm out.
14. Twitter: You can't not buy us!
15. Elon: sue me
16. Twitter: OK
17. Twitter: you MUST buy us
18. Elon: No
19. Twitter: We insist
20. Elon: OK
21. Twitter: "You can't buy us!"

Brian Cates ✪✪✪

The state of things: 1. Elon to Twitter: "I bought stock in Twitter." 2. {Yawn, both eyes closed} 3. "I bought a lot." 4. {one eye opens} 5. "I bought enough to be a board member" 6. (Twitter, alarmed) "You can't!" 7. Elon: "I want to buy the whole company" 8. Twitter: "you CAN'T!!!" 9. Elon...

t.me

 

[Goldhedge]

Brian Cates on Telegram

Wrote this back in July.

Some people need to either read it again or read it for the first time:

Elon Musk Closes The Trap On Twitter

One Way Or Another, The Real Numbers On The Bots Is Going To Come Out

briancates.substack.com

And related:

I suspect Musk has known all along that Twitter's board was lying to him in legal filings and contracts about the # of bots on the platform.

Did Gregg Phillips of True The Vote Just Make Elon Musk An Offer He Can't Refuse?

Who Knew Geotracking of Social Media Accounts Was Even Possible?

briancates.substack.com

Brian Cates ✪✪✪

And related: I suspect Musk has known all along that Twitter's board was lying to him in legal filings and contracts about the # of bots on the platform. https://briancates.substack.com/p/did-gregg-phillips-of-true-the-vote

t.me

 

[Goldhedge]

[Forwarded from Disclose.tv]
JUST IN - Judge delays trial between Twitter and Musk until Oct. 28 to allow the parties to close the transaction.

Elon Musk has now more time to pay or to walk away if the financing fails.

DocumentCloud

www.documentcloud.org

@disclosetv

Disclose.tv

JUST IN - Judge delays trial between Twitter and Musk until Oct. 28 to allow the parties to close the transaction. Elon Musk has now more time to pay or to walk away if the financing fails. https://www.documentcloud.org/documents/23126733-letter-decision-granting-stay @disclosetv

t.me

 

[Goldhedge]

 

[Goldhedge]

 

[Goldhedge]

 

[Goldhedge]

BREAKING: Elon Musk Officially Owns Twitter – Immediately Fires CEO Parag Agrawal, CFO and Legal Head Vijaya Gadde​

By Cristina Laila
Published October 27, 2022

Elon Musk and Twitter reached a deal on Thursday.

Musk is the official owner of Twitter.

Elon Musk purchased Twitter for $54.20 per share – or about $44 billion.

“Twitter CEO Parag Agrawal and finance chief Ned Segal have left the company’s San Francisco headquarters and will not be returning, sources said.” – According to CNBC.

Vijaya Gadde was also fired on Thursday.



Insider reported:

BREAKING: Elon Musk Officially Owns Twitter - Immediately Fires CEO Parag Agrawal, CFO and Legal Head Vijaya Gadde

Elon Musk and Twitter reached a deal on Thursday. Musk is the official owner of Twitter. Elon Musk purchased Twitter for $54.20 per share – or about $44 billion. “Twitter CEO Parag Agrawal and finance chief Ned Segal have left the company’s San Francisco headquarters and will not be returning...

www.thegatewaypundit.com

 

[Sampson]

Did anybody else catch this?

"It can show you a service, or product, or MEDICAL TREATMENT that you never knew existed, BUT IS RIGHT FOR YOU"

Why specifically mention medical treatment? He didn't drop that in there offhand.

Planning for his neurolink advertising strategy already? Or blocking others from controlling the narrative around med's and treatments that he knows are coming?

Either way, very interesting to watch.

 

[Joe King]

^^^^^^

Twitter has ads? In all my years of clicking on twitter links, I cannot recall ever having seen an advertisement of any kind, anywhere on the site.

 

[Goldhedge]

Pranksters posing as laid-off Twitter employees trick media outlets: ‘Rahul Ligma’​

By Thomas Barrabi and Theo Wayt
October 28, 2022

A pair of pranksters posing as laid-off Twitter employees tricked multiple media outlets Friday as the public anxiously awaited news on whether Elon Musk had begun axing staffers.

CNBC’s Deirdre Bosa interviewed two people who identified themselves as Twitter employees and were seen near the company’s San Francisco headquarters carrying cardboard boxes.

Skepticism immediately emerged on social media. One of the pranksters said his name was “Rahul Ligma” — a reference to a popular internet meme — and held a copy of Michelle Obama’s book “Becoming” aloft while speaking to reporters. The other said his name was “Daniel Johnson.”

CNBC, Bloomberg, the Daily Mail and NBC were among the outlets that reported layoffs were underway after the duospoke to the media.

Pranksters posing as laid-off Twitter employees trick media outlets: ‘Rahul Ligma’

A pair of pranksters posing as laid-off Twitter employees tricked multiple media outlets Friday as the public anxiously awaited news on whether Elon Musk had begun axing staffers.

nypost.com

 

[Buck]

Congratulations Elon!

now, can we honestly say: Congratulations Twitter Users?

or is it too soon?

i'll be watching

 

[Goldhedge]

 

[Goldhedge]

WHY DID ELON MUSK BUY TWITTER? I'LL PLAY DEVIL'S ADVOCATE...​

Spiro
2m

 

[TRYNEIN]

 

[Goldhedge]

"Fired for cause" - I wonder what that could mean?

 

[Goldhedge]

 

[SongSungAu]

LOL!

 

[Goldhedge]

Conservative Politicians Add Thousands of Twitter Followers After Musk Takeover​

Twitter had been openly suppressing conservative voices. The extent to which they were suppressed could be seen days after Musk’s takeover. Multiple major Republican candidates suddenly secured thousands of additional followers, while the opposite was true for Democrats.

Florida’s Governor DeSantis saw 3,770 new followers on the first day of Musk’s takeover. Within four days, DeSantis’ followers rose by 148,000. Texas Senator Ted Cruz saw an increase of 1,676 on Musk’s first day, followed by another 41,000 a few days later. Georgia Rep Marjorie Taylor Greene added 1,995 new followers on day one, 41,520 on day two, and 24,287 more on day three. Matt Gaetz, Lauren Boebert, Donald Trump Jr., Kari Lake, and others all saw sudden rises.

On the other hand, Representative Alexandria Ocasio-Cortez of New York shed thousands of followers, as did other squad members. Former President Obama and Vice President Harris also saw a sharp decline in followers, presumably bot accounts.

All of this happened before Twitter even revamped the algorithm. The silent majority was, in fact, silenced on Twitter.

Conservative Politicians Add Thousands of Twitter Followers After Musk Takeover | Armstrong Economics

Twitter had been openly suppressing conservative voices. The extent to which they were suppressed could be seen days after Musk’s takeover. Multiple major Republican candidates suddenly secured thousands of additional followers, while the opposite was true for Democrats. Florida’s Governor...

www.armstrongeconomics.com

 

[SongSungAu]

 

[SongSungAu]

 

[TheRealZed]

 

[Goldhedge]

He speaks as if he was 'listening' to the answer in a hidden ear piece...

Tucker: Now they're threatening Elon Musk​

5m

 

[Goldhedge]

 

[Goldhedge]

 

[Goldhedge]

 

[Joe King]

^^^^ what a buncha f'in cry babys.

"Wah! We didn't get our way! Wah!"

If I were him, I'd fire the lot of 'em and hire people who actually want to do the job.

 

[Someone_else]

Maybe "extremely hardcore" work environment really means:
"WORK environment".

 

[SongSungAu]

I almost wish I had a Twitter account so I could follow what the votes are on this poll. LOL!

 

[SongSungAu]

Browsing the replies is pretty funny. Some people are gonna leave the country if Elon reinstates Trump's account? Yeah, sure. Some of these folks are just mental cases.

 

[Goldhedge]

 

[Goldhedge]

75% of Twitter Employees FIRED!! Elon Cleans House!!!!​

9m
The Liberal Hivemind

 

[cheka]

 

[pmbug]

Maybe "extremely hardcore" work environment really means:
"WORK environment".

The issue seems to be about remote work vs commuting to an office:

Elon Musk’s new email pushes Twitter managers to do his dirty work

Approving remote work puts managers on the chopping block.

www.theverge.com

 

[Joe King]

Maybe "extremely hardcore" work environment really means:
"WORK environment".

I've recently heard of a theory that claims that 50% of the work at any company is performed by the square root of the total number of employees.

I don't know for sure if it is true, but in retrospect it sure seems to closely apply at every job I've ever had.

Browsing the replies is pretty funny. Some people are gonna leave the country if Elon reinstates Trump's account? Yeah, sure. Some of these folks are just mental cases.

Just some? lol