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Musk & Twitter: The Second Act

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  1. #21

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    Quote Originally Posted by TheBrit:
    Is this ironic? It's the opposite - Musk can't use his Tesla equity as collateral against a loan so needs to front up even more cash...
    To his credit it is the second time around that he has secured financing for a major deal.

  2. #22

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    Quote Originally Posted by GentleGeorge:
    Except this time it's not Trump or Musk saying it but... Bloomberg's Matt Levine

    https://www.bloomberg.com/opinion/ar...elon-closes-in

    https://www.bloomberg.com/opinion/ar...-board-gave-up
    Your mentioning the CEO not having shares or using Twitter doesn’t quite compare to Matt Levine correctly pointing out the general problem of insufficiently invested boards. It’s really hard to promote alternative viewpoints here when so many don’t argue in good faith.
    shri likes this.

  3. #23

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    Quote Originally Posted by AsianXpat0:
    Your mentioning the CEO not having shares or using Twitter doesn’t quite compare to Matt Levine correctly pointing out the general problem of insufficiently invested boards. It’s really hard to promote alternative viewpoints here when so many don’t argue in good faith.
    George is just a troll: best ignored. Levine writes eloquently but I don’t believe the Twitter board has put a step wrong here. If they or someone else believes Twitter is worth more than Musk’s offer anyone is welcome to top it. The facts are nobody does believe that, so nobody has come in over the top.

    Board executed their fiduciary responsibility. End of story!
    shri likes this.

  4. #24

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    looool sorry couldn't resist - figured not worth a new thread.

    Name:  Capture  .PNG
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    shri likes this.

  5. #25

  6. #26

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    Truth Social should be available for sale... just saying.

    mrgoodkat likes this.

  7. #27

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    Apparently just needs to fork over a billion and it all goes away...shouldn't be a problem...but, no, gonna let the lawyers get rich instead and fight it out.


  8. #28

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    Quote Originally Posted by MABinPengChau:
    Apparently just needs to fork over a billion and it all goes away...shouldn't be a problem...but, no, gonna let the lawyers get rich instead and fight it out.
    Nope. The Twitter board is holding him to the purchase, Musk can’t simply pay a billion to walk away.

  9. #29

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    The terms of the deal require Musk, the CEO of Tesla, to pay a $1bn break-up fee if he does not complete the transaction.
    https://www.aljazeera.com/news/2022/...n-twitter-deal

  10. #30
    Quote Originally Posted by MABinPengChau:
    The terms of the deal require Musk, the CEO of Tesla, to pay a $1bn break-up fee if he does not complete the transaction.
    Court may hold him to the deal despite the termination clause. Can't just walk away without a reason - his actual reason is that tech stocks like Twitter have cratered 50+% since april.

    The agreement includes a $1bn “reverse termination fee” that Musk would owe if he withdrew from the deal. However, if all other closing conditions are met, including financing, Twitter can seek to make Musk close the deal. US courts have historically sided with sellers in legal battles when buyers try to terminate deals to discourage acquirers from walking away on spurious grounds.
    https://www.ft.com/content/30a85550-...3-609dd7e45508
    TheBrit likes this.

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