Posted on 09/14/2022 1:00:21 PM PDT by SmokingJoe
Sept. 13 (UPI) -- Twitter shareholders voted Tuesday to approve a proposed $44 billion bid by Elon Musk to buy the company, even as Musk seeks to escape the deal.
Twitter confirmed that a preliminary count showed that it had enough votes to approve the deal, according to The Verge.
Musk initially attempted to buy the company but then sent a letter in July saying he was backing out of the deal. He argued that Twitter "has not complied with its contractual obligations" to provide accurate assessments of how many fake user accounts are on its system.
The social media company then sued Musk, accusing him of efforts to "trash the company, disrupt its operations, destroy stockholder value and walk away" from the deal.
Musk then countersued, alleging that Twitter breached provisions of the merger agreement. He cited claims made by Twitter whistleblower Peiter Zatko. Zatko has accused Twitter of lying about its security plan and said that 50% of its servers were outdated. Twitter previously said that Zatko was fired for "ineffective leadership and poor performance."
The trial is expected to begin Oct. 17, even though Musk's lawyers had sought to move the trial back to mid-November.
(Excerpt) Read more at upi.com ...
Yea but he doesn’t want it.
I bet they can’t make him, and I bet they are all facing charges for ignoring their fiduciary responsibilities by playing him for as long as they did. How many millions of Americans despise Twitter now. They’ll never recoup their former spot in world discourse.
Nice if they could get it considering that Twitter's market value is down to $32 billion and the chance that Musk could be forced to buy it is the only thing holding it that high.
And in similar news...
Enron approves Bernie Madoff take over proposal...
ROFLMAO!
Elon: You con-artists running Twitter refuse to give me the internal information I need to accurately determine whether 5% of your Twitter users are bots or 20%, or 45%, or 90% ...
Twitter management: We love you, Elon, we love you.
Elon: You Twitter s***heads, I can't figure out what your company's worth unless you give me all your internal data about the extent of Twitter bot accounts.
Twitter execs: Yes, Elon, we love you, too. You're gonna buy our company and love us so much.
Elon: F*** you. I'm suing you. See you in court!
Twitter management: Awesome! We can't wait to see you in court, too! We really really love you! Looking forward to our mutual courtroom love-fest!
Elon: Are Twitter execs actually that ridiculously stupid?
Twitter management: YES! YES! YESSSSSSSSS!!! ......
%0 cents on the dollar, because that’s all it’s worth.
“I bet they are all facing charges for ignoring their fiduciary responsibilities...”
Ha. You think the SEC is going to target leftie Twitter?
Given the recent revelations of the corporate ‘skullduggery’, if I were a shareholder, I’d be doing the same! No matter if Musk wins or loses his purchase lawsuit, the SEC man is going to be making a call. Also on the schedule will be all of the companies that have adverts on Twitter based upon contracts with specified views that those twits can no longer validate.
Back when Twitter had its IPO, I was watching a cable business program marvel at the soaring stock price. When one head asked the other head as to how could such value be attached to those mini-messages, the answer was to commercialize and sell advertising. Left unsaid was how is the viewers validated. If I recall, Nielsen Media made a try and gave up on it.
Now commeth the Reaper and the sickle is sharp. Interesting times ahead.
Speculation is if there is any Twitter employee without a resume out with the headhunters?
I will bet an ice cream bar that MUSK never buys Twitter at any price near the original offer.
PERHAPS when he can get it for 1/2 % of the original offer, he will consider it.
“They’ll never recoup their former spot in world discourse.”
Musk can walk anytime, and a judge can decide if he gets his Billion dollar deposit back. I think he just wants a big discount. There’s a reason he’s a multi-billionaire.
Possible update...
Bitcoin Magazine
@BitcoinMagazine
JUST IN: Twitter stock trading halted after Elon Musk proposes to proceed with deal at $54.20
12:14 PM · Oct 4, 2022
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