Musk abandons deal to buy Twitter; company says it will sue | AP News

  

Category:  News & Politics

Via:  perrie-halpern  •  one month ago  •  34 comments

By:   BARBARA ORTUTAY, TOM KRISHER and MATT O'BRIEN J (AP NEWS)

Musk abandons deal to buy Twitter; company says it will sue | AP News
Elon Musk announced Friday that he will abandon his tumultuous $44 billion offer to buy Twitter after the company failed to provide enough information about the number of fake accounts.

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Ed-NavDoc
Professor Quiet
1  Ed-NavDoc    one month ago

That is too bad. I would like to have seen Twitter brought down a notch or two at least by Musk.

 
 
 
Tessylo
Professor Principal
1.1  Tessylo  replied to  Ed-NavDoc @1    4 weeks ago

He had no intention of buying.  It's all bullshit.  He's a new hero to the magaturds.

 
 
 
Ed-NavDoc
Professor Quiet
1.1.1  Ed-NavDoc  replied to  Tessylo @1.1    4 weeks ago

Ohhh, you invented a new word!

jrSmiley_10_smiley_image.gif

 
 
 
Vic Eldred
Professor Principal
2  Vic Eldred    one month ago

[deleted]

 
 
 
pat wilson
Professor Guide
2.1  pat wilson  replied to  Vic Eldred @2    one month ago

Take it to Metafied.

 
 
 
Vic Eldred
Professor Principal
2.1.1  Vic Eldred  replied to  pat wilson @2.1    one month ago

Removed for Context

 
 
 
Hallux
Sophomore Principal
2.2  Hallux  replied to  Vic Eldred @2    one month ago
Removed for Context

Fingers crossed up here that the only reason was to bug you.

 
 
 
Kavika
Professor Principal
3  Kavika     one month ago

Twitter is going to sue Musk to go through with the sale. There is also a billion dollar cancel cause that Musk might have to pay. 

A lawyers dream.

 
 
 
Greg Jones
Professor Guide
3.1  Greg Jones  replied to  Kavika @3    one month ago

He'll probably end up buying it at a lower price

 
 
 
Jeremy Retired in NC
PhD Guide
3.1.1  Jeremy Retired in NC  replied to  Greg Jones @3.1    4 weeks ago

That could be the whole point.  

 
 
 
Vic Eldred
Professor Principal
3.2  Vic Eldred  replied to  Kavika @3    one month ago

Didn't Twitter have any responsibility to tell him how many fake accounts they had?

 
 
 
MrFrost
Professor Principal
3.2.1  MrFrost  replied to  Vic Eldred @3.2    one month ago

Didn't Twitter have any responsibility to tell him how many fake accounts they had?

Ok, did they? 

 
 
 
Kavika
Professor Principal
3.2.2  Kavika   replied to  Vic Eldred @3.2    one month ago
Didn't Twitter have any responsibility to tell him how many fake accounts they had?

Twitter reported 5% or less of their accounts are bots, Musk claims it could be 20% or higher. 

Since the market has taken dive since his original bid I'd say he is concerned about overpaying for an asset and wants a lower price or out of the deal. Twitter shares are down 26% since the deal was made and his Telsa stock is down 12%

 
 
 
Kavika
Professor Principal
3.2.3  Kavika   replied to  Kavika @3.2.2    one month ago

Of course, Musk may be rattled over the fact that a company he made fun of a few years ago just passed Tesla as the biggest seller of EV in the world. BYD which Berkshire Hathaway (Warren Buffett) have a major investment in along with Vanguard Group and Blackrock, all of them are heavy hitters.

It's projected that VW will surpass Telsa by 2024 in worldwide EV sales. They are currently are selling more in Europe than Tesla is.

Might be time for Musk to spend more time with Tesla than trying to buy Twitter.

 
 
 
Vic Eldred
Professor Principal
3.2.4  Vic Eldred  replied to  Kavika @3.2.2    4 weeks ago
Twitter reported 5% or less of their accounts are bots, Musk claims it could be 20% or higher. 

I guess a court will have to decide.

A buyer has to know what he is buying.

 
 
 
gooseisback
Freshman Silent
3.2.5  gooseisback  replied to  Kavika @3.2.2    4 weeks ago
Since the market has taken dive since his original bid I'd say he is concerned about overpaying

Is this your opinion or do you have any facts to back it up.  If Musk included a breakdown of the fake/spam accounts in the sales contract, Twitter is in default. 

 
 
 
Ender
Professor Principal
3.2.6  Ender  replied to  gooseisback @3.2.5    4 weeks ago

If he wanted to buy twitter to supposedly fix it, what is the problem?

If he thinks bots are/were a problem, buy the company and fix it, not use it as an excuse not to buy...

 
 
 
Just Jim NC TttH
PhD Principal
3.2.7  Just Jim NC TttH  replied to  Ender @3.2.6    4 weeks ago

I think his point is that the bots inflate the membership and he wants to know actually how many users there are. It would make a difference in the actual value for anyone thinking they may want to advertise or even join up for exposure to a business or product.

 
 
 
Ender
Professor Principal
3.2.8  Ender  replied to  Just Jim NC TttH @3.2.7    4 weeks ago

So he is not going to buy because member ship numbers may be off....

Sounds like an excuse to me as when he first announced he would buy republican membership went up....

Sounds to me like him saying he wanted to buy to 'fix' twiiter was bullshit as every excuse he uses not to buy would/could be things he could fix.

 
 
 
gooseisback
Freshman Silent
3.2.9  gooseisback  replied to  Ender @3.2.6    4 weeks ago
If he wanted to buy twitter to supposedly fix it, what is the problem?

Because social platform add revenues are based off of users.  If the users are fake the company is not valued correctly.  

 
 
 
Ender
Professor Principal
3.2.10  Ender  replied to  gooseisback @3.2.9    4 weeks ago

Seems to me, Musk made the offer. Going by that train of thought, facebook is not valued correctly.

I have never been on a twitter account and seen an add.

 
 
 
gooseisback
Freshman Silent
3.2.11  gooseisback  replied to  Ender @3.2.10    4 weeks ago
Going by that train of thought, facebook is not valued correctly.

That is probably true.  

been on a twitter account and seen an add

Not a twitter person, but that is how they earn income.  They may just sell your info to advertisers. 

 
 
 
Ender
Professor Principal
3.2.12  Ender  replied to  gooseisback @3.2.11    4 weeks ago

I was reading a little in to it. Seems their adds are basically tweets. I guess a company sets up an account and tweets.

Still unsure how it actually works. I don't have a twitter account either.

I would ignore any tweet promoting something.

 
 
 
Kavika
Professor Principal
3.2.13  Kavika   replied to  gooseisback @3.2.5    4 weeks ago
Is this your opinion or do you have any facts to back it up.  If Musk included a breakdown of the fake/spam accounts in the sales contract, Twitter is in default.

This is my complete comment on it. 

Since the market has taken dive since his original bid I'd say he is concerned about overpaying for an asset and wants a lower price or out of the deal. Twitter shares are down 26% since the deal was made and his Telsa stock is down 12%.

You are free to check out the drop in stocks at the timeframe, and as I stated ''I'd say'' should imply to you that that part of my comment is, my opinion.

If Musk had included a fake/spam account numbers in it will come out in the case since twitter has sued. 

 
 
 
Jack_TX
Senior Quiet
3.2.14  Jack_TX  replied to  Ender @3.2.6    4 weeks ago
If he wanted to buy twitter to supposedly fix it, what is the problem?

I'm not convinced he actually ever wanted to buy it.

 
 
 
Ender
Professor Principal
3.2.15  Ender  replied to  Jack_TX @3.2.14    4 weeks ago

I don't think he ever actually had the cash to do it.

I read the SEC is now looking into his filings.

 
 
 
Jack_TX
Senior Quiet
3.2.16  Jack_TX  replied to  Ender @3.2.15    3 weeks ago
I don't think he ever actually had the cash to do it. I read the SEC is now looking into his filings.

I think he wanted to take them down a notch or two.   His offer means he can make them reveal things they don't want anybody to know.

 
 
 
Ender
Professor Principal
3.2.17  Ender  replied to  Jack_TX @3.2.16    3 weeks ago

Nothing revealed that I care about. What he is doing is ruining his own reputation.

Also I would think him pulling a stunt like this just to take them down a notch would be illegal.

 
 
 
devangelical
Professor Principal
3.3  devangelical  replied to  Kavika @3    one month ago

he's already counter-suing with a "I shouldn't be held accountable for shooting my mouth off" case in order to try and negotiate the penalty. I'm sure the SEC has no interest in his twitter acquisition/media history.

 
 
 
Revillug
Freshman Guide
3.3.1  Revillug  replied to  devangelical @3.3    one month ago
I'm sure the SEC has no interest in his twitter acquisition/media history.

heh

 
 
 
Tessylo
Professor Principal
3.3.2  Tessylo  replied to  devangelical @3.3    4 weeks ago

He's a new MAGA asshole.  He had no intention of buying twitter.  It was to rile up the maga masses.  

 
 
 
Revillug
Freshman Guide
4  Revillug    one month ago

Musk is such a dick.

It's a shame, really.

An entrepreneur working with the interesting technologies that he is working with could be beloved by just about everyone. A lot less trolling and a bit more, "I hope to make the world a better place with electric vehicles and renewable energy," could go a long way.

Instead, he is thriving on negative attention.

 
 
 
monkeypox
Freshman Silent
5  monkeypox    4 weeks ago

A man with 10 children finally has an epiphany and pulls out for the first time ever.

 
 
 
JBB
Professor Principal
6  JBB    3 weeks ago

Yes, Henry Ford was an obnoxious richass fascist who built cars, too!

 
 

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