It's great that Musk is doing this but it's sad that we're now reduced to needing a billionaire to buy Twitter so that we might hope to have open and free discussions.
It's great that Musk is doing this but it's sad that we're now reduced to needing a billionaire to buy Twitter so that we might hope to have open and free discussions.
It's great that Musk is doing this but it's sad that we're now reduced to needing a billionaire to buy Twitter so that we might hope to have open and free discussions.
I approve of using a ridiculous amount of wealth to troll the internet.
It seems to me that if this is a fiduciary response they almost have to sell to him (which it is supposed to be), but I'd be shocked if they sell. They will find some way to worm out of it because they all know they will all be fired tomorrow and every Dem politician in the land is calling them and telling them not to. So much for taking care of their shareholders. At 55 bucks a share it's a no brainer, but they won't let him buy it and enrich the actual owners of the company. I'd be shocked if they did.
He then dumps all his shares tanking the stock and Twitter is immediately faced with a class action shareholder lawsuit.
So they're in a pickle?
They really are. In the business world, in a publicly traded company, the Board has a fiduciary responsibility to their shareholders, and this, without question, is a good deal for those shareholders. So weaseling out of it, which they of course want to do (ONLY because of WHO the buyer is), will set them up for not only a class action lawsuit, but direct legal challenges from Musk - and while I am no lawyer I have to imagine Musk can afford better ones than Twatter so they will likely lose and lose huge not only to him but all the other lawsuits that will follow. They are in God's little acre, east of a rock and west of a hard place and they have no winning move. Elon is playing chess while the morons at Twatter try to figure out how to spell checkers.
I do wonder if Twatter is hoping/lobbying a consortium of rich investors (Soros, Bezos, Buffett) that they are ideologically fond of will try to make a competing higher bid just to keep Musk from getting it. Going to get interesting as they are boxed in tightly right now...
It seems to me that if this is a fiduciary response they almost have to sell to him (which it is supposed to be), but I'd be shocked if they sell. They will find some way to worm out of it because they all know they will all be fired tomorrow and every Dem politician in the land is calling them and telling them not to. So much for taking care of their shareholders. At 55 bucks a share it's a no brainer, but they won't let him buy it and enrich the actual owners of the company. I'd be shocked if they did.
He then dumps all his shares tanking the stock and Twitter is immediately faced with a class action shareholder lawsuit.
So they're in a pickle?
They really are. In the business world, in a publicly traded company, the Board has a fiduciary responsibility to their shareholders, and this, without question, is a good deal for those shareholders. So weaseling out of it, which they of course want to do (ONLY because of WHO the buyer is), will set them up for not only a class action lawsuit, but direct legal challenges from Musk - and while I am no lawyer I have to imagine Musk can afford better ones than Twatter so they will likely lose and lose huge not only to him but all the other lawsuits that will follow. They are in God's little acre, east of a rock and west of a hard place and they have no winning move. Elon is playing chess while the morons at Twatter try to figure out how to spell checkers.
I do wonder if Twatter is hoping/lobbying a consortium of rich investors (Soros, Bezos, Buffett) that they are ideologically fond of will try to make a competing higher bid just to keep Musk from getting it. Going to get interesting as they are boxed in tightly right now...
They're hoping one of them steps up, or to be bought out by a bigger social network (which probably won't be allowed).
It seems to me that if this is a fiduciary response they almost have to sell to him (which it is supposed to be), but I'd be shocked if they sell. They will find some way to worm out of it because they all know they will all be fired tomorrow and every Dem politician in the land is calling them and telling them not to. So much for taking care of their shareholders. At 55 bucks a share it's a no brainer, but they won't let him buy it and enrich the actual owners of the company. I'd be shocked if they did.
He then dumps all his shares tanking the stock and Twitter is immediately faced with a class action shareholder lawsuit.
So they're in a pickle?
They really are. In the business world, in a publicly traded company, the Board has a fiduciary responsibility to their shareholders, and this, without question, is a good deal for those shareholders. So weaseling out of it, which they of course want to do (ONLY because of WHO the buyer is), will set them up for not only a class action lawsuit, but direct legal challenges from Musk - and while I am no lawyer I have to imagine Musk can afford better ones than Twatter so they will likely lose and lose huge not only to him but all the other lawsuits that will follow. They are in God's little acre, east of a rock and west of a hard place and they have no winning move. Elon is playing chess while the morons at Twatter try to figure out how to spell checkers.
I do wonder if Twatter is hoping/lobbying a consortium of rich investors (Soros, Bezos, Buffett) that they are ideologically fond of will try to make a competing higher bid just to keep Musk from getting it. Going to get interesting as they are boxed in tightly right now...
Twitter will get their friends in the government, along with their friends in Big Tech to kill this deal. The left now has an uneven playing field that benefits them. There is no way they just give that up. Like all good Commies the control of the narrative and information is everything. Look at the response from the left to this move today, they are in meltdown and they are in meltdown because they do not want a free and open press in this country.
How do you push propaganda like Rachel Levin is really a woman and the Florida law doesn't allow you to say gay, unless you have control of the flow of information in this country?
Some analysts, though, say the company might not have a choice.
“It probably happens. Management is in a tight spot here,” Gene Munster of Loup Ventures said on CNBC’s “Squawk Box.” “A rebuff would be a powerful mistake.”
Wedbush analyst Dan Ives agreed, saying he believes the Twitter board will ultimately accept the bid, but not immediately.
"It would be hard for any other bidders/consortium to emerge and the Twitter board will be forced likely to accept this bid and/or run an active process to sell Twitter," he wrote in a note to clients. "The next step will be Twitter's Board officially reviewing the Musk filing/letter and then [it’s] get out the popcorn time as we expect many twists and turns in the weeks ahead as Twitter and Musk walk down this marriage path."
And Michael Hewson, chief market analyst at CMC Markets, called the bid “very generous … for a business that has been a serial underperformer and tends to treat its users with indifference.”
When even MSN thinks they are fucked, they are well and truly fucked.
The complaint in New York federal court accuses Musk of violating a regulatory deadline to reveal he had accumulated a stake of at least 5%. Instead, according to the complaint, Musk didn’t disclose his position in Twitter until he’d almost doubled his stake to more than 9%. That strategy, the lawsuit alleges, hurt less wealthy investors who sold shares in the San Francisco company in the nearly two weeks before Musk acknowledged holding a major stake.
The lawsuit alleges that by March 14, Musk's stake in Twitter had reached a 5% threshold that required him to publicly disclose his holdings under U.S. securities law by March 24. Musk didn't make the required disclosure until April 4.
That revelation caused Twitter's stock to soar 27% from its April 1 close to nearly $50 by the end of April 4's trading, depriving investors who sold shares before Musk's improperly delayed disclosure the chance to realize significant gains, according to the lawsuit filed on behalf of an investor named Marc Bain Rasella. Musk, meanwhile, was able to continue to buy shares that traded in prices ranging from $37.69 to $40.96.
The lawsuit is seeking to be certified as a class action representing Twitter shareholders who sold shares between March 24 and April 4, a process that could take a year or more.
anyone can sue anyone. This strikes me as a cash grab. And a counter assault
And we can't forget that if Twitter rebuffs him not only will Elon dump his 10% but you have to think MANY institutional investors would be furious with them and there could be a steep sell off. As previously stated they are in a really tough spot and if they can't get some rich leftard to beat his offer, they may have no choice. It absolutely delights me thinking of all of those radical SF progressives getting fired en masse after he storms the gates. Please let this happen.
It just dawned on me. If he manages to buy it he can move the entire company to Texas and liberals heads will literally explode. I am delighted right now.
Some analysts, though, say the company might not have a choice.
“It probably happens. Management is in a tight spot here,” Gene Munster of Loup Ventures said on CNBC’s “Squawk Box.” “A rebuff would be a powerful mistake.”
Wedbush analyst Dan Ives agreed, saying he believes the Twitter board will ultimately accept the bid, but not immediately.
"It would be hard for any other bidders/consortium to emerge and the Twitter board will be forced likely to accept this bid and/or run an active process to sell Twitter," he wrote in a note to clients. "The next step will be Twitter's Board officially reviewing the Musk filing/letter and then [it’s] get out the popcorn time as we expect many twists and turns in the weeks ahead as Twitter and Musk walk down this marriage path."
And Michael Hewson, chief market analyst at CMC Markets, called the bid “very generous … for a business that has been a serial underperformer and tends to treat its users with indifference.”
When even MSN thinks they are fucked, they are well and truly fucked.
It just dawned on me. If he manages to buy it he can move the entire company to Texas and liberals heads will literally explode. I am delighted right now.
And do not locate it in Austin, Dallas, SA or Houston. How about El Paso, College Station or Lubbock. And if he really wants to make Twitter employees quit, announce that he's moving it to Waco.
Comments
I do wonder if Twatter is hoping/lobbying a consortium of rich investors (Soros, Bezos, Buffett) that they are ideologically fond of will try to make a competing higher bid just to keep Musk from getting it. Going to get interesting as they are boxed in tightly right now...
I am #TeamMusk all the way in this.
How do you push propaganda like Rachel Levin is really a woman and the Florida law doesn't allow you to say gay, unless you have control of the flow of information in this country?
Some analysts, though, say the company might not have a choice.
“It probably happens. Management is in a tight spot here,” Gene Munster of Loup Ventures said on CNBC’s “Squawk Box.” “A rebuff would be a powerful mistake.”
Wedbush analyst Dan Ives agreed, saying he believes the Twitter board will ultimately accept the bid, but not immediately.
"It would be hard for any other bidders/consortium to emerge and the Twitter board will be forced likely to accept this bid and/or run an active process to sell Twitter," he wrote in a note to clients. "The next step will be Twitter's Board officially reviewing the Musk filing/letter and then [it’s] get out the popcorn time as we expect many twists and turns in the weeks ahead as Twitter and Musk walk down this marriage path."
And Michael Hewson, chief market analyst at CMC Markets, called the bid “very generous … for a business that has been a serial underperformer and tends to treat its users with indifference.”
When even MSN thinks they are fucked, they are well and truly fucked.
The complaint in New York federal court accuses Musk of violating a regulatory deadline to reveal he had accumulated a stake of at least 5%. Instead, according to the complaint, Musk didn’t disclose his position in Twitter until he’d almost doubled his stake to more than 9%. That strategy, the lawsuit alleges, hurt less wealthy investors who sold shares in the San Francisco company in the nearly two weeks before Musk acknowledged holding a major stake.
The lawsuit alleges that by March 14, Musk's stake in Twitter had reached a 5% threshold that required him to publicly disclose his holdings under U.S. securities law by March 24. Musk didn't make the required disclosure until April 4.
That revelation caused Twitter's stock to soar 27% from its April 1 close to nearly $50 by the end of April 4's trading, depriving investors who sold shares before Musk's improperly delayed disclosure the chance to realize significant gains, according to the lawsuit filed on behalf of an investor named Marc Bain Rasella. Musk, meanwhile, was able to continue to buy shares that traded in prices ranging from $37.69 to $40.96.
The lawsuit is seeking to be certified as a class action representing Twitter shareholders who sold shares between March 24 and April 4, a process that could take a year or more.
anyone can sue anyone. This strikes me as a cash grab. And a counter assault
DAWG sense