Twitter board chair Bret Taylor said the decision came down to the economics of the deal. “The proposed transaction will deliver a substantial cash premium, and we believe it is the best path forward for Twitter’s stockholders,” he said in the release.The God-King gets his website
The strategy, known as a shareholder rights plan, would let investors buy Twitter stock at a discounted price unavailable to Musk. The flood of new shares would potentially make it prohibitively expensive for Musk to buy the company.You'll never get our site Elon
Then Musk outlined his financing last week, saying he secured $46.5 billion through loans by banks, including Morgan Stanley, and his own equity.
The company’s board of directors met with Musk on Sunday, and negotiations extended into the early hours of Monday, according to a person familiar with the negotiations, who spoke on the condition of anonymity because of the sensitivity of the discussions. The two sides were focused on determining whether Musk had the financing to complete the acquisition, and did not spend much time discussing Musks’s strategy for the future of the social network, the person said.
Wait how much
Beyond the bank loans, it’s unclear how Musk intends to pay for more than $21 billion of the deal which he described as “equity financing” from himself. He could borrow against or sell shares of his Tesla stock, though that path would raise risks for the share price of the electric carmaker.Narrator: it didn't
“If Elon Musk were forced to sell shares of our common stock that he has pledged to secure certain personal loan obligations, such sales could cause our stock price to decline,” Tesla warned in its annual filing.
The stock market's fake, Elon extending his grasp over the culture will only make this shit go even higher
Twitter employees about to get fucked
In an attempt to quell financial worries, Sean Edgett, Twitter’s general counsel, told employees that any potential buyer would most likely be required to keep employee equity “as is” or provide equivalent compensation, like a cash award.
Mr. Edgett, who made his comments before the deal with Mr. Musk was announced, stressed that employees should not view his guidance as insight into the deal-making. “This is meant to provide some peace of mind and explain how these things typically work, not because we believe there will be one outcome versus another,” he wrote in messages to employees reviewed by The Times.
Mr. Agrawal has tried to calm his work force. In a question-and-answer session with employees held the day Mr. Musk announced he intended to buy Twitter, Mr. Agrawal declined to share details about how the company would respond to Mr. Musk but urged employees to remain focused on the things they could control, like their day-to-day work, according to employees who attended the meeting.Some of them are excited about that
But other employees have argued in internal messages seen by The Times that their co-workers have shifted too far to the left side of the political spectrum, making employees who support Mr. Musk’s plans too uncomfortable to speak up. In a worker-run survey of nearly 200 Twitter employees on Blind, an anonymous workplace review app, 44 percent said they were neutral on Mr. Musk. Twenty-seven percent said they loved Mr. Musk, while 27 percent said they hated him.
Didn't the existing twitter board give everyone a day off because they thought their employees were mentally overwhelmed by the first bid Elon submitted? lol so soft.
By Kabro Go To PostWhat's the Twitter equivalent of a Tesla crashing into a plane?Having authenticated human checking lead to even more bullying, stalking, and physical violence towards people who posted opinions you don't like.
By JesalR Go To PostTesla slumped near enough 2/3rds the price of Twitter on the newsTesla doomed for sure
I wonder if they'll have to make cars that actually work now
By Kibner Go To PostHaving authenticated human checking lead to even more bullying, stalking, and physical violence towards people who posted opinions you don't like.Don't forget the PTSD for the checkers who have to watch and document all the murder, torture ans sexual abuse vids
Twitter co-founder Jack Dorsey, who stepped down as CEO late last year, has long declined to take a salary from the social media platform, instead only taking a de minimis $1.40 annual paycheck. However, Dorsey owned 2.4 percent of the company, or about 18,042,428 shares, which Musk would be buying for $54.20 each.How many bitcoins is that
That would set Dorsey up for a $978 million cash payout should the deal be completed.
By Not Go To PostTesla doomed for sureNo, just delete all the twitter threads from that lady who drags their shit
I wonder if they'll have to make cars that actually work now
By Old King Rob Go To PostWhat else is Horse gonna post?Anything to stop that terrorist.
I need the opinions of a tweeter with 4 likes and 1 retweet that’s themselves
By reilo Go To Postlet it burn
By FortuneFaded Go To PostDoes Twitter count as a competitor to SLAENT?You sound like a day trading pumper.*
* Pumping stocks not penises.
Technically he didn't yet, the board has to approve, shareholders vote, among other steps that might push him to back out? And then it'll take months
realistically whats gonna change
probably nothing judging by how he ran the companies he took over lmao
probably nothing judging by how he ran the companies he took over lmao
By Not Go To PostMero gonna be the first ban
By Old King Rob Go To PostMero gonna be the first banTwitter cops been after him for years
One theory put forward is that a key motivator for Musk is that “Twitter, and its ability to generate attention and hype, is an essential component of the business strategy for Tesla, SpaceX, and the Boring Company." Other commentators land somewhere close because this matches up much more closely with Musk’s track record. Given Musk's ability to move markets with tweets―and the trouble he’s gotten in for it with the SEC―we have to face the possibility that Musk doesn’t have some grand plan in mind to re-envision Twitter, but will settle on something convenient to his interests and dressed up as a pretentious vision for “global consciousness.”
“By buying Twitter and taking it private, Musk is seemingly trying to ensure he’ll have the full force of the company behind him the next time the SEC questions him about using the platform to commit fraud," Revolving Door Project research director Max Moran said in a press release.
On the other hand, nothing much might change at all, which would be fitting. Musk, with his insistence on marketing himself as an avatar of the future, would very much like you to think that this transaction represents something new in human affairs. Instead, it’s just a very old story: A very rich person using money to control not just what people say, but where they say it.
By Laboured Go To PostYeah but that's your answer to everything.
Because look: Frankly, it’s not enough to have spent my childhood wanting for nothing due to my father’s massive wealth, to have struck it rich off of a fairly dull money-transfer service idea that I didn’t even come up with, to have alienated and berated everyone I’ve ever worked with, to lie repeatedly that I was the original founder of Tesla, to amass enormous wealth off of taxpayer-funded subsidies while insisting that I’m self-made, to wield my influence and inane ideas for unworkable projects to prevent actual functional improvements in multiple cities, to receive uncritical adulation from the fawning business and tech presses, to foster a repressive and even racist workplace in my factories replete with numerous labor violations, all in the name of making cars that don’t even really fucking work—no. It’s not enough. What I desperately, desperately need is for you to think that I’m cool and funny. I need this. Please give me that satisfaction.
