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Musk offers to buy Twitter

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  1. #1

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    shri likes this.

  2. #2

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    Social media controlled by power mad billionaires, what could go wrong?

    JAherbert likes this.

  3. #3

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    Bret Taylor

    Chairman of the Board,



    I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy.



    However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company.



    As a result, I am offering to buy 100% of Twitter for $54.20 per share in cash, a 54% premium over the day before I began investing in Twitter and a 38% premium over the day before my investment was publicly announced. My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder.



    Twitter has extraordinary potential. I will unlock it.


    /s/ Elon Musk
    Thats quite the pump.

    Missed this bit ..



    [SEND VIA TEXT]



    As I indicated this weekend, I believe that the company should be private to go through the changes that need to be made.



    After the past several days of thinking this over, I have decided I want to acquire the company and take it private.



    I am going to send you an offer letter tonight, it will be public in the morning.



    Are you available to chat?



    [VOICE SCRIPT]



    1. Best and Final:
    a. I am not playing the back-and-forth game.
    b. I have moved straight to the end.
    c. It's a high price and your shareholders will love it.
    d. If the deal doesn’t work, given that I don’t have confidence in management nor do I believe I can drive the necessary change in the public market, I would need to reconsider my position as a shareholder.
    i. This is not a threat, it's simply not a good investment without the changes that need to be made.
    ii. And those changes won't happen without taking the company private.


    2. My advisors and my team are available after you get the letter to answer any questions
    a. There will be more detail in our public filings. After you receive the letter and review the public filings, your team can call my family office with any questions.

  4. #4

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    Quote Originally Posted by shri:
    Thats quite the pump.

    Missed this bit ..
    So Musk invested a fortune in a company with shit management that won't thrive?

  5. #5

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    Quote Originally Posted by hullexile:
    So Musk invested a fortune in a company with shit management that won't thrive?
    He has probably been planning to take it over for a long time. If the hostile takeover doesn't succeed the stock price will tank so he's pretty much holding the share price hostage. Exit at a premium or be left holding a bag.

  6. #6

    Waited for his friend Jack Dorsey to get out.

    Curious what he has in mind - could be good for twitter.

    Really hate what FB has done to instagram - used to be a simple photo sharing app, now there are ads all over, the feed isn't time based and your privacy is leaked...


  7. #7

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    I hope someone told him taking Twitter private doesn't mean he gets to tweet whatever he wants without worrying about SEC swooping down on his ass...

    He should know this right... or hopefully by now someone should have told him...


  8. #8

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    Quote Originally Posted by Elefant&Castle:
    Waited for his friend Jack Dorsey to get out.

    Curious what he has in mind - could be good for twitter.
    I guess he was bored or smoked one too many?

    Elon Musk says he's 'not sure' he'll be able to buy Twitter

    https://www.cnbc.com/2022/04/14/elon...ndroidappshare

  9. #9
    Quote Originally Posted by shri:
    I guess he was bored or smoked one too many?

    Elon Musk says he's 'not sure' he'll be able to buy Twitter

    https://www.cnbc.com/2022/04/14/elon...ndroidappshare
    I just watched him on that TED show - said he could do it, but it's a lot of money.
    So seems he wants to retain as many shareholders as allowed when taking the company private - that's 2000.

    It is a lot of money - particularly if it is not a financial investment...

  10. #10

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    Perhaps he’ll send it to a black hole in one of his SpaceX rockets so we can stop wasting time on Twitter. It’s all about social responsibility!


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