Elon Musk buys $3 billion stake (9.2%) in Twitter and is now the platform's largest shareholder
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Anonymous
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He wants to force Twitter into suing him for lack of performance. He's then going to turn around and claim the victim narrative, saying that mean Twitter is trying to "silence" him. It will be a stalemate between opposing legal teams, as he refuses to pay the breakage fee and Twitter threatens to go nuclear by forcing the sale in Delaware chancery.
He's kinda pathetic and definitely unstable. Never thought I'd say that about the world's richest person. |
Anonymous
He’s toxic and he’s destroying Twitter because he has the power to do so. And I don’t get how he’s the richest person in the world. Tesla has so many issues and so few people have them. |
Anonymous
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Not sure what Twitter is thinking here. It seems like they are trying to call his bluff, but they had a really strong legal position to just tell him to pound sand. With all this data, Musk will come up with all kinds of additional excuses to back out of the deal. Even if they aren't good excuses, he'll be able to leverage them to grind through years of litigation. |
Anonymous
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At this point it’s clear that he just doesn’t want to buy twitter. It was always a bad decision to buy a social media company for someone who has a net worth tied up in a company that relies on China for a large percentage of manufacturing.
It was clear from early on that he wasn’t going to follow through. Will eventually need to pay the breakup fee. |
Anonymous
Giving him access to the data neutralizes any attempt by Musk to argue that Twitter somehow breached the merger agreement by failing to provide the information as a way to get out of the deal without paying the break fee. Access will be subject to strict NDAs, so if Musk discloses any of the data publicly (or even discusses it publicly), Twitter can sue him for breach. Realistically, there will be too much data for Musk to have his people comb through to find a basis to get out do the agreement, and since he’s already waived due diligence, odds are anything he does find won’t give him grounds to get out of the agreement anyway. Also, giving him access to the data does not give him access to the proprietary systems Twitter uses to generate its 5% figure, so it’s basically the equivalent of handing him a 10 million piece puzzle with no picture and telling him to figure it out. Basically, they are calling his bluff because they know he won’t be able to do anything productive with the data in the remaining time horizon of the acquisition, anything Musk does with then data that hurts Twitter will cause him to face massive liability if the deal doesn’t close, and if it does close, then Musk is stuck with the consequences of his damage to Twitter. |
Anonymous
Anonymous
He's going to welch on the $1B break up fee. Guarantee it. Not sure that Twitter wants to commit the legal resources to going after Musk....it would just be a war of attrition in the court room. No one wins except the lawyers. |
Anonymous
He could just give them a lot of Tesla stock. Or Bitcoin... |
Anonymous
Twitter isn't interested in catching his falling knives. Besides, it's more fun for Twitter to force him realize gains to raise cash and make him pay taxes mwaaahahaha |
Anonymous
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What was that amazing and intelligent see our woman who recently had another set of twins with him X. Yale hockey player, economics, philosophy, tech head, venture capitalist.
What was SHE thinking? I want kids and he’ll always pay the monthly expenses? I mean what are you thinking…?. She had her own money. |
Anonymous
If bits were a big % if their subs then they breached the MAC clause, breakup fee waived. |
Anonymous
He's just trying to weasel out. He already signed away due diligence. |
Anonymous
Read the article. There’s no way his team will be able to verify that. And he waived due diligence to get them to except the offer. |
Anonymous
| What will happen to Twitter if the deal fails? |