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thewayneLast week, The World's Richest Man, which I guess makes him think that he must also be the world's smartest man, which he clearly isn't based on his behavior, started tweeting smack about Twitter and the amount of spam bots on the site.
There's a problem with this. There is a specific clause in the purchase agreement that he will not disparage the company while trying to purchase it. Something that he has done repeatedly. He already has one shareholder lawsuit against him for manipulating the stock price, plus an FTC investigation against him. The man is a moron, or thinks that his wealth makes him immune to investigations and lawsuits.
Since he announced his intention to buy Twitter, the world economy has taken a bit of a nose-dive, and the stocks of Twitter and Tesla have tanked. Both are worth a lot less. But he has a signed agreement to buy Twitter at $54 per share. A lot of people are wondering if he actually has the backing to conclude the deal at this point, what with the stock price reduction of Tesla, which is one of Elon's major sources of wealth. People are also wondering if he even wants to go through with it at this point, and whether his derision of Twitter is a way of announcing he wants out, hoping THEY will cancel the deal, because of the cancellation clause. If the deal fails to be consummated, the side which fails pays the other a cool $1 billion. That's supposed to be a solid inducement to get the job done, which Twitter's board wants to see.
Elon? Who knows what he wants.
https://arstechnica.com/tech-policy/2022/05/twitter-board-tells-elon-musk-we-will-not-alter-the-deal/
There's a problem with this. There is a specific clause in the purchase agreement that he will not disparage the company while trying to purchase it. Something that he has done repeatedly. He already has one shareholder lawsuit against him for manipulating the stock price, plus an FTC investigation against him. The man is a moron, or thinks that his wealth makes him immune to investigations and lawsuits.
Since he announced his intention to buy Twitter, the world economy has taken a bit of a nose-dive, and the stocks of Twitter and Tesla have tanked. Both are worth a lot less. But he has a signed agreement to buy Twitter at $54 per share. A lot of people are wondering if he actually has the backing to conclude the deal at this point, what with the stock price reduction of Tesla, which is one of Elon's major sources of wealth. People are also wondering if he even wants to go through with it at this point, and whether his derision of Twitter is a way of announcing he wants out, hoping THEY will cancel the deal, because of the cancellation clause. If the deal fails to be consummated, the side which fails pays the other a cool $1 billion. That's supposed to be a solid inducement to get the job done, which Twitter's board wants to see.
Elon? Who knows what he wants.
https://arstechnica.com/tech-policy/2022/05/twitter-board-tells-elon-musk-we-will-not-alter-the-deal/
