This complete Elon Musk will-he-or-won’t-he consummate his $44 billion deal to amass Twitter couldn’t get any weirder.
Consider:
After waiving the customary due diligence, the Tesla CEO is now blaming his chilly toes on all of the bot, spam, and different assorted trash on the platform. Apparently, that’s all an excessive amount of to cope with for a similar good engineering thoughts that constructed an organization whose rockets can land themselves on ships in the course of the ocean. There’s additionally the tiny inconvenience of Twitter’s share worth (round $36, as of the time of this writing) hovering under the $54.20/share worth that Musk provided for the corporate.
Never thoughts all that, although. Musk now says the deal is off. And Twitter, for its half, apparently thinks that it might be a great use of firm sources, time, and cash to go to court docket to power an unwilling purchaser to … purchase Twitter.
“Mr. Musk is terminating the merger agreement”
In response to a letter that Musk’s authorized staff delivered on Friday — which declared that “Mr. Musk is terminating the merger agreement” — Twitter’s board chairman Bret Taylor (the co-CEO of Salesforce) responded via a tweet thus. “The Twitter Board is dedicated to closing the transaction on the worth and phrases agreed upon with Mr. Musk and plans to pursue authorized motion to implement the merger settlement.
“We are confident we will prevail in the Delaware Court of Chancery.”
All of this, for a corporation that made much less cash in 2021 than Olive Garden did.
The Musk bombshell, by the best way, comes a day after we received phrase of an thrilling, breakthrough new Twitter characteristic that can certainly rejuvenate exercise on the platform: More than one particular person can now creator the identical tweet.
Cue the fireworks.
Elon Musk vs. Twitter. Fight!
Honestly, the extra you dig into both aspect of this acquisition story, the extra you can find your self on a one-way journey to clown city.
Musk’s Twitter deal appeared to rapidly flip into an actual factor, within the loosest sense of that time period, after the corporate months in the past suspended The Babylon Bee’s account. Twitter’s board, in the meantime, held a vote and ended up deciding — yep, we predict the man who as soon as joked, on Twitter, that he’s taking Tesla non-public at $4.20 a share could be a superb steward on the head of our firm.
The Babylon Bee, for its half, responded to Friday’s information by penning the next headline:
- Elon Musk Backs Out Of Twitter Deal After Realizing He Can Read The Babylon Bee By Going Directly To Their Website
So, what now? Here’s the likeliest situation. Both sides will spend thousands and thousands on legal professionals for some form of settlement that permits Musk to stroll away. And that’s that. There are extra necessary information tales on the planet.
Source: bgr.com”