Twitter Is Likely To Accept Elon Musk’s $43 Billion Offer To Buy The Company As Soon As Today (UPDATE: The Deal Is Done)
UPDATE: It’s official. The Twitter board has accepted Elon’s offer and Twitter is going to become a private company. All the details are here.
Bret Taylor, Twitter’s Independent Board Chair, said, “The Twitter Board conducted a thoughtful and comprehensive process to assess Elon’s proposal with a deliberate focus on value, certainty, and financing. The proposed transaction will deliver a substantial cash premium, and we believe it is the best path forward for Twitter’s stockholders.”
Parag Agrawal, Twitter’s CEO, said, “Twitter has a purpose and relevance that impacts the entire world. Deeply proud of our teams and inspired by the work that has never been more important.”
Here’s the original post:
Bro may at times live below the poverty line, but Elon Musk was able to move some money around and come up with $43 billion to buy Twitter. Maybe he took out a second mortgage on his couch, cashed out an IRA, and recommitted himself to eating nothing but peanut butter and Top Ramen for the next few years, but he’s done it. And according to Reuters, Elon’s “best and final” $43 billion offer is probably going to get the job done. Despite trying to hinder the deal with a so-called “poison pill,” Twitter “is poised to agree” to the sale which could be announced as soon as today. It’s a shame that Elon’s 7th child’s college fund is toast, but at least Exa Dark Sideræl Musk gets to play with Twitter’s ban button. Babies love buttons!
As of this writing, there’s still a chance that Twitter could accept another offer, but my GoFundMe has only raised $3.48, so it’s not looking good. I was going to make them give the bird googly eyes, dammit! Reuters reports:
Twitter Inc (TWTR.N) is poised to agree a sale to Elon Musk for around $43 billion in cash, the price the CEO of Tesla has called his “best and final” offer for the social media company, people familiar with the matter said.
Twitter may announce the $54.20-per-share deal later on Monday once its board has met to recommend the transaction to Twitter shareholders, the sources said, adding it was still possible the deal could collapse at the last minute.
Twitter shares were up 4.5% in pre-market trading in New York at $51.15.
Twitter has not been able to secure so far a ‘go-shop’ provision under its agreement with Musk that would allow it to solicit other bids once the deal is signed, the sources said. Still, Twitter would be allowed to accept an offer from another party by paying Musk a break-up fee, the sources added.
Oh, so that’s why Grimes was cagey about their relationship status. I bet Elon puts a break-up fee clause in all his contracts. If the deal does go through, here’s what we can expect from Twitter 2.0 (Now With 20% Extra Free Speech!):
Setting the blue bird free. pic.twitter.com/NZNrjLDPSV
— James Melville (@JamesMelville) April 25, 2022
Oh, snap! Now Elon’s putting googly eyes on the bird? Glad I didn’t waste my money. Reuters reports:
The 50-year-old entrepreneur, who is also CEO of rocket developer SpaceX, has said he wants to combat trolls on Twitter and proposed changes to the Twitter Blue premium subscription service, including slashing its price and banning advertising.
The billionaire, a vocal advocate of cryptocurrencies, has also suggested adding dogecoin as a payment option on Twitter.
He has said Twitter’s current leadership team is incapable of getting the company’s stock to his offer price on its own, but stopped short of saying it needs to be replaced.
“The company will neither thrive nor serve this societal imperative in its current form,” Musk said in his offer letter last week.
Lord help us when we start letting the world’s richest man dictate “societal imperatives,” let alone one who dresses like a 10-year-old having a cowboy-themed birthday party whose mom applied a societal imperative on all the other moms to force their kids to attend. I swear, it seems like just yesterday I started trying to me #TookToTwitter happen. In fact, one of my first uses of it on this site was back in a 2017 story about then-President Donald Trump tweeting “we should have a contest as to which of the Networks, plus CNN and not including Fox, is the most dishonest, corrupt and/or distorted in its political coverage of your favorite President (me). They are all bad. Winner to receive the FAKE NEWS TROPHY!” Lol, remember when that guy had Twitter? Well, if Elon actually #TookTwitter, Trump might be allowed back on the app. However, according to The New York Times, “Mr. Trump said in a recent interview that he probably wouldn’t rejoin Twitter if he could.” Instead, Donald’s trying to launch his own app. Yes, they have an awful lot in common, but free speech is expensive and compared to Elon, Donald is very poor.