Elon & Twitter

[Knightshade]

Lol you guys are funny. 99.8235% chance this is settled out of court for an undisclosed amount.

Given it's a public company M&A deal directly impacting shareholder value I can't see how it even could be an undisclosed amount.

Can you cite any examples of M&A specific performance settlements of public companies where the settlement amount was not public?

 

[Bouba]

If they agree a deal at a lower amount...what if not all the shareholders agree...Elon could still get control of the company but at a reduced cost for a reduced percentage

 

[Daniel in SD]

 

[Daniel in SD]

https://twitter.com/x/status/1546980241494745100

 

[Daniel in SD]

Motion to expedite proceedings: https://www.wlrk.com/docs/76660131_Final-Motion-to-Expedite.pdf
Mark your calendars!
"Given the October 24th drop-dead date, Twitter seeks a four-day trial on its action against Musk to be completed in September 2022"

 

[EVCollies]

Motion to expedite proceedings: https://www.wlrk.com/docs/76660131_Final-Motion-to-Expedite.pdf
Mark your calendars!
"Given the October 24th drop-dead date, Twitter seeks a four-day trial on its action against Musk to be completed in September 2022"

Popping corn...

 

[Daniel in SD]

I'm not sure why I find this all so entertaining, but I do.

https://twitter.com/x/status/1547002003124957184

Even if this Twitter deal doesn't work out I'm guessing a purchase of Truth Social is probably out of the question now.

 

[AlanSubie4Life]

Musk Tweeted publicly a misrepresentation that Twitter’s sample size for spam estimates was just 100.

9000/quarter is 100 per day which is presumably where Elon conjured that number from.

I’m not sure what the significance is though. I guess they are saying they use 9000 accounts for their quarterly analysis which seems fine given they say it’s a pretty approximate number. And I guess they don’t care about day-to-day fluctuations in the measurement.

To not misrepresent it, while still faithfully violating his non-disclosure obligations, he should have specified that his crack teams of third-party researchers should conduct an average over a 90-day observation interval, observing 100 accounts per day (subject to the criteria).

I also like how the legal document capitalizes the Tweet verb. Very important. I will be doing this in future when discussing Tweets.

This is the stupidest and also the highest stakes corporate drama ever.

 

[_Redshift_]

I'm not sure why I find this all so entertaining, but I do.

https://twitter.com/x/status/1547002003124957184

Even if this Twitter deal doesn't work out I'm guessing a purchase of Truth Social is probably out of the question now.

If he thinks twitter’s estimation of bots is less than the whole truth, I wonder what he would find with “Truth” Social.

In case it comes to him making a bid for that platform, that is.

 

[Daniel in SD]

 

[AlanSubie4Life]

View attachment 827932

Trump does not take kindly to being told to ride into the sunset. Who could have predicted that?

Methinks Elon should listen to the master dealmaker.

 

[Bet TSLA]

It's called poop and scoop (love this!) and it's illegal.

Poop and Scoop: What It is, How It Works, Example

A poop and scoop scheme spreads false information in an effort to force a stock's price lower, thereby offering an illegal opportunity to purchase at a discount.

www.investopedia.com

He literally tweeted a poop emoji. A week before this the stock was trading at ~$50 a share.

https://twitter.com/x/status/1526246899606601730

Sorry, so far as I can tell Elon, whatever he may have said, has made TWTR higher than it would have been otherwise. But I can't see any court pretending that they know what a stock price as volatile as TWTR ought to rightfully be.

So I can't see any barrier to Elon buying as much more TWTR as he likes. Maybe he already has.

 

[rjack1282]

Given it's a public company M&A deal directly impacting shareholder value I can't see how it even could be an undisclosed amount.

Can you cite any examples of M&A specific performance settlements of public companies where the settlement amount was not public?

Fine fixed it. Percentage stays the same.

Lol you guys are funny. 99.8235% chance this is settled out of court.

 

[Daniel in SD]

Fine fixed it. Percentage stays the same.

Lol you guys are funny. 99.8235% chance this is settled out of court.

$52.69 a share?

 

[_Redshift_]

View attachment 827932

What’s happening! Am I agreeing with DJT now?

 

[rjack1282]

What’s happening! Am I agreeing with DJT now?

User name checks out .

 

[_Redshift_]

User name checks out .

Ah, double entendre. Unintentional. It is meant to be the doppler effect of luminous objects moving away from you at high speed.

I’ll shift TO the red if and when DJT can go 24 hours without uttering a lie.

 

[Knightshade]

If they agree a deal at a lower amount...what if not all the shareholders agree...Elon could still get control of the company but at a reduced cost for a reduced percentage

Not all shareholders need to agree. Only a majority (it could be some slightly higher number like 2/3rds or something depending on their corporate bylaws- too lazy to check or care- but it's a low enough # it shouldn't be a problem to get them to agree at any number reasonably higher than current share price, let alone the full $54.20 is specific performance is ordered by the court)


The deal is all or nothing and with the intent to take twitter private-delisting the stock from the public exchange is specifically called out in the contract- you can't do that buying only a % of the stock, you need all of it-.

Motion to expedite proceedings: https://www.wlrk.com/docs/76660131_Final-Motion-to-Expedite.pdf
Mark your calendars!
"Given the October 24th drop-dead date, Twitter seeks a four-day trial on its action against Musk to be completed in September 2022"

Yup... all the "ah it'll be tied up in court for years" folks are gonna be in for a pretty rude awakening about how Delaware Chancery operates.

(I expect the ones convinced Elon is gonna be given a blank discovery check from them will be too)

 

[AlanSubie4Life]

there's SOME percentage chance they negotiate a lower price outside of the courtroom, reducing your gains.

Yeah seems like this is the only thing that could possibly explain it. Must be a significant chance of it being settled out of court for 15% off, maybe $45.69 or so to honor Trump.

It it actually goes to court it seems like he would nearly certainly just be ordered to buy it - in that case, I guess I have a question: is it quite a bit more likely that the price would be very close to $54.20? (In line with the 2.5% off in that prior deal?). In other words, much more likely he is ordered to pay more if it goes to court?

I really don’t see how he is going to wiggle out of purchasing Twitter short of complete contempt. I still think on balance the market thinks it is much more likely he will not pay than I think it is though.

I guess we should all agree in advance that if he is forced to buy it, he has only himself to blame, right? It’s not people conspiring against him, right? We can ALL agree on that, right? Guys? Guys…??? Hello?

 

[MC3OZ]

I guess we should all agree in advance that if he is forced to buy it, he has only himself to blame, right? It’s not people conspiring against him, right? We can ALL agree on that, right? Guys? Guys…??? Hello?

I agree, but I have no strong opinion on how the court case will go, or how long it will take.

IMO the main area of dispute is the price, but buying it was never a great idea. If Elon can get some discount on the price, he might be happy, so it still might settle.