Elon Musk buys Twitter for $44 billion

[Anti Federalist]

Or things the controlled opposition would say the controlled opposition would say the controlled opposition would say about him.

Maybe it's turtles controlled opposition all the way down ...

 

[Anti Federalist]

 

[ClaytonB]

"If free speech is restored to even one big social media platform, it all comes tumbling down."

That's why, despite the fact that Musk is, indeed, trolling, this story matters. It reminds me of the neoCON line about terrorism that was popular after 9/11: Terrorists Have to Be Lucky Once; Targets, Every Time.

The tyrants are fighting gravity, not the other way around. Never forget it!!

 

[Anti Globalist]

Who's going to tell him?

 

[Occam's Banana]

What I mean [when I say the corporate press is "un-self-aware"] is that they are oblivious to the fact that they are no longer the potent and powerful curators of public discourse that they once were but still imagine themselves to be.

https://twitter.com/DrewHolden360/status/1515365971757879306

 

[Occam's Banana]

Elon Takes Twitter - Part Of The Problem #847
On this episode of Part Of The Problem, Dave and Robbie talk about Elon Musk's attempted hostile takeover of Twitter, the importance of the platform and the corruption that has led to this. This Show Was Recorded On 4.15.22
https://www.youtube.com/watch?v=Y5YlklWTv_4

//

 

[Occam's Banana]

Doesn't this have the huge potential for backfire? I mean, I'm sure there were plenty of shareholders that were salivating at the prospects of the big buyout. Now, if they can purchase additional shares and give their proxies to Musk, they can make out even better. Obviously, this takes some coordination, but in the modern era, coordination like this is increasingly feasible.

Maybe just wishful thinking?

https://twitter.com/elonmusk/status/1515405264740134918

Investopedia: Tender Offer

 

[jmdrake]

What's really funny is that if you openly support Nazi's in Ukraine - that's fine.

If your tweet criticizes Nazi's in Ukaine.... you get banned.

That's only true if you are from the west. YouTube banned a popular Chinese vlogger because China was upset because his posts were seen as anti Russian. I kid you not.

https://www.msn.com/en-us/news/worl...sting-about-life-in-ukraine-report/ar-AAVUcDY

 

[GlennwaldSnowdenAssanged]

Will Twitter bann Musk?

 

[Brian4Liberty]

Was talking to a Democrat last weekend. They proclaimed that they had deleted their Twitter account because of Elon Musk. Apparently they have also developed a hatred of Bill Maher, who they used to love. The left seems to be imploding.

 

[DamianTV]

Elon Musk threatens Twitter board
https://www.infowars.com/posts/elon-musk-threatens-twitter-board/

Billionaire entrepreneur Elon Musk has come up with a quick way to lop off some costs if he prevails in a bid to acquire Twitter: ceasing to pay the company’s board members, who have tried to block the takeover, allegedly to the detriment of the shareholders they supposedly represent.

Musk, whose fortune is estimated at nearly $270 billion by Forbes, vowed on Monday to fire Twitter’s directors – or at least cut off their compensation – if and when his $43 billion takeover goes through. He made his comment in response to investment advisor Gary Black, who pointed out that Twitter has been paying its board members $250,000-$300,000 in cash and stock awards annually for their part-time work as outside directors.

“Board salary will be $0 if my bid succeeds, so that’s $3 million/year saved right there,” Musk said in a Twitter post.

Board salary will be $0 if my bid succeeds, so that’s ~$3M/year saved right there

— Elon Musk (@elonmusk) April 18, 2022

The South African-born billionaire, who first revealed that he had accumulated a 9.2% stake in Twitter earlier this month, said board members would expose themselves to a “titanic” legal liability if they breach their fiduciary duty to stockholders. He made that comment in response to speculation that Twitter’s board was considering a “poison pill,” which would dilute the stake of a hostile bidder.

A cryptic tweet by Musk on Saturday, saying “Love me tender,” stirred speculation that he will try to take control of Twitter by making a tender offer for the shares that he doesn’t already own. Such a bid would invite all shareholders to tender their stock for sale at the offer price during a certain time period. Tender offers typically exceed the market price of a stock, giving investors a chance to cash out at a profit.

However, the proposed takeover is more than a battle over returns on investment. Musk’s offer has been celebrated by advocates of free speech and assailed by opponents – including some Twitter employees – who argue that he would open up the platform to more “misinformation” and online harassment.

Musk may have gained an unlikely ally in Dorsey, who ripped Twitter’s board on Saturday for its tactics in trying to block the proposed takeover. He said the board has “consistently been the dysfunction of the company.”

I am not that big of a fan of Elon Musk, but shaking things up at Twatter to me is just fine. I dont hate Elon. I dont love Elon either. He is just 'meh'. But shaking the tree at Twatter gets a thumbs up from me.

 

[Occam's Banana]

[...] And the Libs of Tik Tok account was locked yesterday for "hateful content" just for doing what they've always done - namely, posting videos of batshit insane lefties/wokesters saying batshit insane things. [...]

What I mean [when I say the corporate press is "un-self-aware"] is that they are oblivious to the fact that they are no longer the potent and powerful curators of public discourse that they once were but still imagine themselves to be. [...] Every time they peddle some asinine bit of nonsense (such as that New York Times Washington Post item painting Elon Musk as some kind of wannabe Citizen-Kane-style "press baron" doxxing anonymous Twitter users like the person behind the Libs of Tik Tok account), they think they are advancing their cause, but they are actually just exposing their increasingly desperate impotence for all to see.

And see it they will. We have the Internet, social media, and "Big Tech" (despite themselves) to thank for that fact. They are being hoisted on their own petard, and they simply don't know what to do about it [...]

It's a glorious thing to behold.

https://twitter.com/ggreenwald/status/1516574705309921283

 

[Brian4Liberty]

https://twitter.com/ggreenwald/status/1516574705309921283

That name sounds familiar. Oh yeah, the crazy reporter that was crying that people were picking on her.

File this under toxic femininity, along with Jen Psaki and Adam Kinzinger.

 

[Occam's Banana]

https://twitter.com/ggreenwald/status/1516574705309921283

That name sounds familiar. Oh yeah, the crazy reporter that was crying that people were picking on her.

THREAD: Female Journalist DESTROYS Lives & Then Claims To Have PTSD From Mean Tweets! Taylor Lorenz Roasted!

 

[Occam's Banana]

https://twitter.com/ggreenwald/status/1516574705309921283

The WashPost's Doxxing of @LibsOfTikTok Reveals Who Corporate Journalists See as Their Targets
Trump-era corporate journalism ceased viewing real power centers as adversaries (CIA/NSA/FBI/WallSt). The real enemy are citizens with the wrong politics. Rather than confront real power centers, the largest and richest media corporations - eg, the Bezos-owned Washington Post - allied with those factions and attack citizens.

The 2018 CNN obscenity featured in this video is most illustrative: they confronted an old lady with a tiny pro-Trump FB page on her yard. We recall when CNN threatened to dox someone who made an anti-CNN meme and when the Daily Beast published dirt and the real name of someone who published a video making Nancy Pelosi look drunk.

This is the key lesson of the latest tawdry episode with the Washington Post's Taylor Lorenz: ever since a Trump presidency became a possibility, the largest liberal media corporations - over and over - have used their vast resources to target and punish private citizens for the wrong politics.
https://rumble.com/v11n4sn-taylor-l...tok-reveals-who-corporate-journalists-se.html

 

[Occam's Banana]

https://twitter.com/BowTiedRanger/status/1517178265655521280

 

[Occam's Banana]

Twitter reconsiders Elon Musk's takeover bid after $46.5 billion in financing secured
Both sides are reportedly meeting Sunday to discuss Musk's proposal.
https://thepostmillennial.com/twitt...akeover-bid-46-5-billion-in-financing-secured
Hannah Nightingale (24 April 2022)

Twitter is reportedly re-examining SpaceX and Tesla CEO Elon Musk's $43 billion offer to buy the Big Tech company after he revealed that he has now secured $46.5 billion for the potential buyout.

According to The Wall Street Journal, Twitter had been ready to reject the offer, but will take a new look at it after the business magnate revealed his filing with the SEC showing that he has lined up financing for the offer.

The financing includes $22.5 billion which will come from his own equities.

People familiar with the matter told The Wall Street Journal that the revelation makes it more likely for Twitter to seek to negative the offer with Musk.

"The situation is fast-moving and it is still far from guaranteed Twitter will do so," The Wall Street Journal noted.

Some of the people said that Twitter is still working on an estimate of its own value, and could also insist on sweeteners for the deal such as Musk covering breakup costs if the deal falls through.

The two sides are reportedly meeting on Sunday to discuss Musk’s offer.

The company is expected to address on the bid when it reports first-quarter earnings Thursday, if not sooner, the people said.

Their response could leave the door open to other bidders, or negotiating with Musk on terms not included in the price.

The people told The Wall Street Journal that Musk remains firm on his offer of $54.20-a-share.

The potential turnaround from Twitter comes as Musk met with several shareholders of the company privately on Friday to talk up his proposal through a series of video calls.

According to The Wall Street Journal, Musk reportedly has a few shareholders behind him following the meetings.

Lauri Brunner, who manages Thrivent Asset Management LLC’s large-cap growth fund, said. "He has an established track record at Tesla," she said. "He is the catalyst to deliver strong operating performance at Twitter."

Musk has reportedly said he is considering taking his bid directly to shareholders by launching a tender offer, but even if he was to get significant shareholder support, he would still have to work around the company’s "poison pill."

 

[Occam's Banana]

Twitter set to accept Musk's original $43 [billion] offer
https://www.reuters.com/technology/...pt-musks-best-final-offer-sources-2022-04-25/
Greg Roumeliotis (25 April 2022)

NEW YORK (Reuters) - Twitter Inc. is poised to agree [to] a sale to Elon Musk for around $43 billion in cash, the price the chief executive of Tesla Inc. has called his "best and final" offer for the social media company, people familiar with the matter said.

Twitter may announce the $54.20-per-share deal later on Monday once its board has met to recommend the transaction to Twitter shareholders, the sources said. It is always possible that the deal collapses at the last minute, the sources added.

Musk, the world's richest person according to a tally by Forbes, is negotiating to buy Twitter in a personal capacity and Tesla is not involved in the deal.

Twitter has not been able to secure so far a 'go-shop' provision under its agreement with Musk that would allow it to solicit other bids once the deal is signed, the sources said. Still, Twitter would be allowed to accept an offer from another party by paying Musk a break-up fee, the sources added.

The sources requested anonymity because the matter is confidential. Twitter and Musk did not immediately respond to requests for comment.

Twitter shares were up 4.5% in pre-market trading in New York on Monday at $51.15.

Musk has said Twitter needs to be taken private to grow and become a genuine platform for free speech.

The deal would come just four days after Musk unveiled a financing package to back the acquisition. This led Twitter's board to take the deal more seriously and many shareholders to ask the company not to let the opportunity for a deal to slip away, Reuters reported on Sunday.

The sale would represent an admission by Twitter that its new chief executive Parag Agrawal, who took the helm in November, is not making enough traction in making the company more profitable, despite being on track to meet ambitious financial goals the company set for 2023. Twitter's shares were trading higher than Musk's offer price as recently as November.

Musk's negotiating tactics - making one offer and sticking with it - resembles how another billionaire, Warren Buffett, negotiates acquisitions. Musk did not provide any financing details when he first disclosed his offer for Twitter, making the market skeptical about its prospects.

 

[Occam's Banana]

Talcum X has some thoughts:

https://twitter.com/shaunking/status/1518576839777734657

 

[Occam's Banana]

Come laugh at this thread of Twitter blue checks crying about Elon's imminent purchase of Twitter