Elon Musk offers to buy Twitter

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Sep 6, 2012
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Twitter turns the tables on Musk, will “enforce
merger

Twitter's board said Tuesday that it plans to "close the transaction and enforce the merger agreement" between Elon Musk and Twitter, The New York Times reports
https://www.axios.com/2022/05/17/elon-musk-twitter-will-enforce-merger
The more Elon tweets, the more I come to believe he's trying to scuttle the deal and back away from the table.
I think that is why he is focusing on the number of (real) users as well. The breakage fee is a million, and a potential lawsuit is most likely more. Especially after the stocks tanks if he were to back out.
 

Duke Silver

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ramases2112

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The more Elon tweets, the more I come to believe he's trying to scuttle the deal and back away from the table.
I think its more that Twitter is like this big beautiful home from the outside and once you get inside you find its completely destroyed with fire damage, floors are dirt, plumbing and electrical have been stripped out, and the local crack heads have been living there. If twitter is lying about its value and user base that would significantly affect the value of the company. Doubt he is trying to get out of it, but more just trying to get the company at its more realistic value.
 

CowboyJD

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I think its more that Twitter is like this big beautiful home from the outside and once you get inside you find its completely destroyed with fire damage, floors are dirt, plumbing and electrical have been stripped out, and the local crack heads have been living there. If twitter is lying about its value and user base that would significantly affect the value of the company. Doubt he is trying to get out of it, but more just trying to get the company at its more realistic value.
Maybe you don't make an offer and sign a contract on a house based solely upon the appearance of the outside.

And if he's trying to renegotiate and get Twitter at what he now views as its more realistic value, that is by definition trying to get out of the deal he's already made.
 

TheMonkey

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Maybe you don't make an offer and sign a contract on a house based solely upon the appearance of the outside.

And if he's trying to renegotiate and get Twitter at what he now views as its more realistic value, that is by definition trying to get out of the deal he's already made.
When you buy a house there is typically a period of time the buyer can have an inspection.

Major purchases, like of Twitter, often have several points which must be confirmed within a specific timeframe. The number of actual Twitter users could well be a deal point. In fact, I would be shocked if it wasn’t. So no, adjusting a final purchase price is not at all by definition trying to get out of a deal.

If this was a public company buying another company, it would be fiscally irresponsible for the purchasing company not to complete, after an initial offer or purchase LOI/MOU is provided, a thorough review of the books, equipment, and customer data.

I don’t know Elon’s intentions, but to act like it is not extremely common (maybe even nearly every time) for there not to be adjustments made on an initial offer for a multi-billion dollar company acquisition is incorrect.
 
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Binman4OSU

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Musk is just in a free fall lately. Employees at SpaceX wrote an open letter criticizing Elon's recent behavior and he fires them the next day. This is like how to start a company-wide revolt 101.
https://www.reuters.com/technology/...ng-musk-nyt-2022-06-17/?utm_source=reddit.com
Are there a lot of private companies that are okay with employees bullying and intimidating others? And distributing demands for the company to separate itself from its founder and chief engineer?

Seems like how to start a company-wide revolt 201 is by allowing bullying to continue. SpaceX reportedly has a zero tolerance policy on employee harassment. Seems like HR followed written policies and the 5 fired employees violated the policies.
 
Oct 7, 2008
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Are there a lot of private companies that are okay with employees bullying and intimidating others? And distributing demands for the company to separate itself from its founder and chief engineer?

Seems like how to start a company-wide revolt 201 is by allowing bullying to continue. SpaceX reportedly has a zero tolerance policy on employee harassment. Seems like HR followed written policies and the 5 fired employees violated the policies.
Oh, how valiant of you to rush to the aid of one of our nation's richest and most powerful men in his time of need! Truly chivalry isn't dead. Be still mine beating heart!
 
Mar 11, 2006
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Oh, how valiant of you to rush to the aid of one of our nation's richest and most powerful men in his time of need! Truly chivalry isn't dead. Be still mine beating heart!
It seems incredibly understandable to me that private companies are enforcing policies to protect bullying and harassment of other employees in this day and age. Surprised others feel differently.

And unclear what you mean about Musk being in a free fall --- are you referring to the dip in stock price for Tesla?
 
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Oct 7, 2008
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It seems incredibly understandable to me that private companies are enforcing policies to protect bullying and harassment of other employees in this day and age. Surprised others feel differently.

And unclear what you mean about Musk being in a free fall --- are you referring to the dip in stock price for Tesla?
How were they bullied and harassed? Did someone receive an email asking for their signature more than once? It feels more like Musk pretending to care for his employees as a cover for him not being able to handle criticism, which he's made himself a big target for lately.

I'm sure there's a pro-Elon and not-so-pro-Elon camp inside Tesla and SpaceX right now. I would imagine this will add to the rift. But mainly it's just more bad PR on top of bad PR lately for Musk.