Elon Musk tells Twitter he wants out of his deal to buy it

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signalmankenneth

Verified User
Looks like Trump wont be back on Twitter now!:smile:

New York (CNN Business)Elon Musk wants to terminate his $44 billion deal to buy Twitter — the latest in a whirlwind process in which he became the company's biggest shareholder, turned down a board seat, agreed to buy the social media platform and then started raising doubts about going through with the deal.

Musk claimed in a regulatory filing Friday evening that he is ending the deal becuase Twitter (TWTR) is "in material breach of multiple provisions" of the original agreement, which was signed in April.

Musk has for weeks expressed concerns, without any apparent evidence, that there are a greater number of bots and spam accounts on the platform than Twitter has said publicly. Analysts have speculated that the concerns may be an attempt to create a pretext to get out of a deal he may now see as overpriced.

Twitter did not immediately respond to a request for comment.

https://www.cnn.com/2022/07/08/tech/elon-musk-twitter-deal-exit/index.html
 
Notice the dishonest CNN wording....Musk has ended the purchase.

Twitter can sue for damages but they will lose.
 
It looks to me that Twitter claims that less than 5% of the "users" are bots but that they dont actually know because they never cared. They are interested in supporting the Revolution, so long as Twitter is helping the Revolution they are happy, if this is being driven partly by bot traffic then great.

I think I have read that Musk thinks that the real number is 15%-20%, which would be massive in building a hall of mirrors.
 
Hawkeye10 said:
It looks to me that Twitter claims that less than 5% of the "users" are bots but that they dont actually know because they never cared. They are interested in supporting the Revolution, so long as Twitter is helping the Revolution they are happy, if this is being driven partly by bot traffic then great.

I think I have read that Musk thinks that the real number is 15%-20%, which would be massive in building a hall of mirrors.
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15-20% is much more plausible than 5%.
 
Theywillneverlearn! said:
Is that Guno person a crack addict? I have read its posts. Zero education or intelligence. I mean none.
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He's a Democrat professional shill (or used to be) that gets paid by OPs started.

They send him a pittance of a check every so often for doing so, and he never has to leave the basement.
 
signalmankenneth said:
Looks like Trump wont be back on Twitter now!:smile:

New York (CNN Business)Elon Musk wants to terminate his $44 billion deal to buy Twitter — the latest in a whirlwind process in which he became the company's biggest shareholder, turned down a board seat, agreed to buy the social media platform and then started raising doubts about going through with the deal.

Musk claimed in a regulatory filing Friday evening that he is ending the deal becuase Twitter (TWTR) is "in material breach of multiple provisions" of the original agreement, which was signed in April.

Musk has for weeks expressed concerns, without any apparent evidence, that there are a greater number of bots and spam accounts on the platform than Twitter has said publicly. Analysts have speculated that the concerns may be an attempt to create a pretext to get out of a deal he may now see as overpriced.

Twitter did not immediately respond to a request for comment.

https://www.cnn.com/2022/07/08/tech/elon-musk-twitter-deal-exit/index.html
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tired of hearing about that asshole
 
Matt Dillon said:
They have to prove the percentage of bots if they press the issue. :laugh:

They lost.
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They need to prove that they had a good faith basis for making the claim, but they cant, so Musk will get to walk away without even paying the $1 billion walk away charge, much less other claims.
 
signalmankenneth said:
Looks like Trump wont be back on Twitter now!:smile:

New York (CNN Business)Elon Musk wants to terminate his $44 billion deal to buy Twitter — the latest in a whirlwind process in which he became the company's biggest shareholder, turned down a board seat, agreed to buy the social media platform and then started raising doubts about going through with the deal.

Musk claimed in a regulatory filing Friday evening that he is ending the deal becuase Twitter (TWTR) is "in material breach of multiple provisions" of the original agreement, which was signed in April.

Musk has for weeks expressed concerns, without any apparent evidence, that there are a greater number of bots and spam accounts on the platform than Twitter has said publicly. Analysts have speculated that the concerns may be an attempt to create a pretext to get out of a deal he may now see as overpriced.

Twitter did not immediately respond to a request for comment.

https://www.cnn.com/2022/07/08/tech/elon-musk-twitter-deal-exit/index.html
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Well, what a shame. America's REAL billionaire decided that his best financial interests were NOT in keeping crazies' dreams of tyranny alive. Maybe someone read Elon some history. :laugh:
 
Twitter’s Board is going to sue to force Musk to close. For those of you celebrating Musk wanting to back out will you celebrate that?
 
cawacko said:
Twitter’s Board is going to sue to force Musk to close. For those of you celebrating Musk wanting to back out will you celebrate that?
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They will lose.

NOTE: This faith in the courts to pursue justice is rare in 2022, I just think that it would be too embarrassing to rule against Musk because his case is air tight.
 
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