Re: Elon Musk buys Twitter for $44 Billion
 

He can also afford to lose a $bn.

Re: Elon Musk buys Twitter for $44 Billion
 

He does not care

Re: Elon Musk buys Twitter for $44 Billion
 

Elon Musk hasn't always made the smartest decisions, especially when it comes to Twitter. I wouldn't rule out that this was an excitable flight of fancy that went too far. Let's see if he closes on the deal or not.

Re: Elon Musk buys Twitter for $44 Billion
 

Twitter is not worth what Musk offered and he knows it, but he offered so much they were duty bound to accept it.

Musk has demanded that Twitter reveal how many accounts, and therefore users ( I.e advertising consumers …….revenue) are actually fake.

If it turns out a large % of accounts are fake bots, that then devalues the company. Musk can walk away from the deal and the shareholders can sue the board.

Job done.

Re: Elon Musk buys Twitter for $44 Billion
 

Well, he can't walk away simply by devaluing the company. He has already committed to buying it and waived his right to perform due diligence. If the shareholders did sue they could easily sue Musk as well.

If he can prove the Twitter broad engaged in fraud or something then he could walk away without penalty but the Bloomberg piece I linked to before explains why that's hard. Especially since Twitter reports its revenue so unless he says they lied about that as well whatever the number of bots is it clearly isn't causing him to misunderstand how much Twitter makes.

We already know he overpaid for Twitter but everyone knew that at the time.

Personally, I think he is trying to be as difficult as possible so Twitter just agree to mutually cancel the deal.

Re: Elon Musk buys Twitter for $44 Billion
 

BREAKING: Elon Musk Terminates his deal to buy Twitter.

https://www.reuters.com/technology/e...al-2022-07-08/

Re: [Updated] Elon Musk pulls out of $44 Billion Twitter deal
 

I am shocked! Who could have seen this coming?!

Re: Elon Musk buys Twitter for $44 Billion
 

They probably won’t, but it may force shareholders to investigate the actual worth of the company and how it’s being run.

They’ve just missed out on a payday. Twitter is not particularly profitable as a company. Shareholders may decide to change things to make it more saleable.

Either way, Musk has started something.

Re: [Updated] Elon Musk pulls out of $44 Billion Twitter deal
 

Well it might well go to court anyway unless Musk pays the termination fee. No word on that yet.

Twitter isn't worth $44 billion and Musk signed the deal just before the wider tech market - including his own shares in Tesla - went south.

Im not surprised he pulled out,who the hell would want Twitter??

Re: [Updated] Elon Musk pulls out of $44 Billion Twitter deal
 

Twitter has only made a profit in financial years 2018 and 2020 and has been going since 2010. Unless you have a revolutionary new business model to change it or money to burn, I can't see the case for acquiring it at today's valuations.

If you don't have such a plan, buying Twitter looks like the 21st century equivalent of acquiring a loss-making British newspaper to garner favour and attention from the high and mighty.
https://www.statista.com/statistics/...me-of-twitter/

Re: [Updated] Elon Musk pulls out of $44 Billion Twitter deal
 

Part of the reason Musk probably thought that number of Twitter users may not be accurate

Re: [Updated] Elon Musk pulls out of $44 Billion Twitter deal
 

No-one disputes there are fake accounts on Twitter. Even Tiwtter themselves say that is the case.

But as Damien pointed out here:
The whole point of due diligence is that you work out any issues before you sign the deal, and ensures you can't back out by saying 'oh I didn't know about X so I don't want to do it now'.

Musk had that option and actively chose to waive it.

Re: [Updated] Elon Musk pulls out of $44 Billion Twitter deal
 

The most important figure is profit and that's audited. If user numbers was important, he would have conducted due diligence to confirm the accuracy of this figure.

As Damien has said, he's pulled out due to the downturn in tech company valuations.

I read they are trying to sue him :D

What a bunch of idiots.. NO ONE CAN FORCE ANYONE TO BUY IT!!


Just shut it down,.........