Elon Musk Officially Purchases Twitter, Takes Company Private

[NewbieCanuckFan]

21 hours ago, nuckin_futz said:

Fun fact - Musk didn't create Tesla. He bought his way into it.

Other Fun Fact:  Musk has the back of the freedumb truckers (along with developing a truck that doesn’t need drivers).   With friends like that, who needs enemies.

 

 

[JM_]

Musk is going to pollute the night sky with his satellites. He'll eventually become Dr. Evil. 

[YEGCanuck]

Was I dreaming or this morning did Twitter not just communicate a message saying Musk has decided to decline a seat on their Board.

[thedestroyerofworlds]

3 hours ago, YEGCanuck said:

Was I dreaming or this morning did Twitter not just communicate a message saying Musk has decided to decline a seat on their Board.

That looks to be true.  

 

https://techcrunch.com/2022/04/10/elon-musk-is-not-joining-twitter-board-ceo-parag-agrawal-says/

In major reversal, Elon Musk is noensureining Twitter’s board

[nuckin_futz]

Elon Musk offers to buy Twitter, shares jump 13% in pre-market

• Elon Musk proposes to buy 100% of Twitter for $54.20 per share in cash

In a letter delivered to Twitter yesterday, Elon Musk delivered a non-binding proposal to acquire all of Twitter stock not owned by the reporting person for all cash consideration valuing the stock at $54.20 per share.

Musk says this is his "best and final offer" and that if it isn't accepted, he would "need to reconsider my position as a shareholder". Before yesterday, Musk held a 9.1% stake in the company after this move here.

*************************

Doesn't seem like the market is all that impressed TWTR shares are currently trading slightly negative on the day.

 

[thedestroyerofworlds]

27 minutes ago, nuckin_futz said:

Elon Musk offers to buy Twitter, shares jump 13% in pre-market

• Elon Musk proposes to buy 100% of Twitter for $54.20 per share in cash

In a letter delivered to Twitter yesterday, Elon Musk delivered a non-binding proposal to acquire all of Twitter stock not owned by the reporting person for all cash consideration valuing the stock at $54.20 per share.

Musk says this is his "best and final offer" and that if it isn't accepted, he would "need to reconsider my position as a shareholder". Before yesterday, Musk held a 9.1% stake in the company after this move here.

*************************

Doesn't seem like the market is all that impressed TWTR shares are currently trading slightly negative on the day.

 

Nope, nothing to see here.  Guy with a stake in the company boasting an offer that definitely won't boost share prices in said company that guy has a stake in.  Nope, nothing nefarious going on. 

 

/s

[Warhippy]

29 minutes ago, nuckin_futz said:

Elon Musk offers to buy Twitter, shares jump 13% in pre-market

• Elon Musk proposes to buy 100% of Twitter for $54.20 per share in cash

In a letter delivered to Twitter yesterday, Elon Musk delivered a non-binding proposal to acquire all of Twitter stock not owned by the reporting person for all cash consideration valuing the stock at $54.20 per share.

Musk says this is his "best and final offer" and that if it isn't accepted, he would "need to reconsider my position as a shareholder". Before yesterday, Musk held a 9.1% stake in the company after this move here.

*************************

Doesn't seem like the market is all that impressed TWTR shares are currently trading slightly negative on the day.

 

If anything this is another Musk pump and dump.  How this guy is allowed to manipulate certain stocks the way he does is beyond me.

 

The only thing funnier is how he claims it is for and about free speech but we know full well the first thing he would do is ban the account that tracks his plane.

[Seifer86]

28 minutes ago, nuckin_futz said:

Elon Musk offers to buy Twitter, shares jump 13% in pre-market

• Elon Musk proposes to buy 100% of Twitter for $54.20 per share in cash

In a letter delivered to Twitter yesterday, Elon Musk delivered a non-binding proposal to acquire all of Twitter stock not owned by the reporting person for all cash consideration valuing the stock at $54.20 per share.

Musk says this is his "best and final offer" and that if it isn't accepted, he would "need to reconsider my position as a shareholder". Before yesterday, Musk held a 9.1% stake in the company after this move here.

*************************

Doesn't seem like the market is all that impressed TWTR shares are currently trading slightly negative on the day.

 

Not totally surprising. Twitter stock is up 15% since it was revealed he bought a 9% stake in the company. He's also offering $54.20 per share which is obviously a premium on the current value. But shares peaked at $77 last year so he's well below that. It's a shrewd move by him all around but it is not as earth shattering as some are making it.

[nuckin_futz]

1 minute ago, Warhippy said:

If anything this is another Musk pump and dump.  How this guy is allowed to manipulate certain stocks the way he does is beyond me.

 

The only thing funnier is how he claims it is for and about free speech but we know full well the first thing he would do is ban the account that tracks his plane.

When you're the richest man in the world the rules do not apply.

[nuckin_futz]

1 minute ago, Seifer86 said:

Not totally surprising. Twitter stock is up 15% since it was revealed he bought a 9% stake in the company. He's also offering $54.20 per share which is obviously a premium on the current value. But shares peaked at $77 last year so he's well below that. It's a shrewd move by him all around but it is not as earth shattering as some are making it.

He's offering an 18% premium over yesterday's closing price. That's not enough to get it done. It's probably just a publicity stunt and it has worked.

[Warhippy]

1 minute ago, nuckin_futz said:

When you're the richest man in the world the rules do not apply.

The saddest part is, he does it via social media platforms and the idiocy jump on it like it's gospel.  Some are fast enough to make $$ ala Doge but realy

[nuckin_futz]

1 minute ago, Warhippy said:

The saddest part is, he does it via social media platforms and the idiocy jump on it like it's gospel.  Some are fast enough to make $$ ala Doge but realy

At least when he does it on Twitter the information gets disseminated to everyone at the same time.

[nuckin_futz]

[canuckster19]

42 minutes ago, nuckin_futz said:

Best I can do is 3-fiddy.

[canuckster19]

Well if I had a gun pointed to my head and had to throw my support behind some random billionaire, Musk certainly isn't a terrible option, better than Bozo, the Koc*s, Sorrow.

Edited April 14, 2022 by canuckster19

[24K PureCool]

29 minutes ago, canuckster19 said:

Well if I had a gun pointed to my head and had to throw my support behind some random billionaire, Musk certainly isn't a terrible option, better than Bozo, the Koc*s, Sorrow.

Musk will lead us to a glorious revolution. Not sure where we end up but the journey is gonna be dope. 

 

[nuckin_futz]

11 minutes ago, 24K PureCool said:

Musk will lead us to a glorious revolution. Not sure where we end up but the journey is gonna be dope. 

 

I'm calling dibs on the window seat on the hyperloop.

Edited April 14, 2022 by nuckin_futz

[I.Am.Ironman]

On 4/6/2022 at 10:08 AM, nuckin_futz said:

Fun fact - Musk didn't create Tesla. He bought his way into it.

Other than the early adopters of bitcoin, that is probably the best capital investment of the last 30 or so years. Maybe more.

He also slept inside the factory to try to keep the company afloat amidst manufacturing challenges. He says some stupid @*%& (some of that may be due to his social challenges?), and I don't agree with a lot of it, but I don't understand why people are so eager to discredit his accomplishments (not speaking about you specifically, more of a generalized comment). He spearheaded the EV revolution and transition away from fossil fuels. I don't fault him for becoming the richest man in the world because of it. I don't see Ford or GM or the other manufacturers aggressively pursuing EVs, as they are now, without Elon.

 

As for twitter.. Musk is a free speech maximalist. Obviously a lot of social media platforms have come under fire for censoring... rightly or wrongly. If this new twitter becomes a thing it will be interesting to see how much of a wild west it becomes. Are people going to be allowed to just openly scam people? Will bullying or online abuse be punished? Will there be an age limit? A lot of questions. I see it being a cesspool for misinformation which is what twitter, facebook..sorry 'Meta', and the like have been fighting against. But the consequence of that is limiting someones free speech.. so they say. It's an interesting dilemma.

 

I saw an article headline (didn't care enough to read) that some of twitter's major stake holders were going to block the sale?

[nuckin_futz]

13 minutes ago, I.Am.Ironman said:

Other than the early adopters of bitcoin, that is probably the best capital investment of the last 30 or so years. Maybe more.

He also slept inside the factory to try to keep the company afloat amidst manufacturing challenges. He says some stupid @*%& (some of that may be due to his social challenges?), and I don't agree with a lot of it, but I don't understand why people are so eager to discredit his accomplishments (not speaking about you specifically, more of a generalized comment). He spearheaded the EV revolution and transition away from fossil fuels. I don't fault him for becoming the richest man in the world because of it. I don't see Ford or GM or the other manufacturers aggressively pursuing EVs, as they are now, without Elon.

 

As for twitter.. Musk is a free speech maximalist. Obviously a lot of social media platforms have come under fire for censoring... rightly or wrongly. If this new twitter becomes a thing it will be interesting to see how much of a wild west it becomes. Are people going to be allowed to just openly scam people? Will bullying or online abuse be punished? Will there be an age limit? A lot of questions. I see it being a cesspool for misinformation which is what twitter, facebook..sorry 'Meta', and the like have been fighting against. But the consequence of that is limiting someones free speech.. so they say. It's an interesting dilemma.

 

I saw an article headline (didn't care enough to read) that some of twitter's major stake holders were going to block the sale?

I am guilty of crapping on him a lot. lol  He's definitely a visionary. It's such a shame he's also an ***hole. Then again look at Henry Ford he was a visionary too. Too bad he was also a virulent antisemitic.

 

Twitter is already the internet's toilet. I'm not sure I want to see it become anymore of a free for all.

 

I don't think his offer gets accepted.

Edited April 15, 2022 by nuckin_futz

[thedestroyerofworlds]

43 minutes ago, I.Am.Ironman said:

Other than the early adopters of bitcoin, that is probably the best capital investment of the last 30 or so years. Maybe more.

He also slept inside the factory to try to keep the company afloat amidst manufacturing challenges. He says some stupid @*%& (some of that may be due to his social challenges?), and I don't agree with a lot of it, but I don't understand why people are so eager to discredit his accomplishments (not speaking about you specifically, more of a generalized comment). He spearheaded the EV revolution and transition away from fossil fuels. I don't fault him for becoming the richest man in the world because of it. I don't see Ford or GM or the other manufacturers aggressively pursuing EVs, as they are now, without Elon.

 

As for twitter.. Musk is a free speech maximalist. Obviously a lot of social media platforms have come under fire for censoring... rightly or wrongly. If this new twitter becomes a thing it will be interesting to see how much of a wild west it becomes. Are people going to be allowed to just openly scam people? Will bullying or online abuse be punished? Will there be an age limit? A lot of questions. I see it being a cesspool for misinformation which is what twitter, facebook..sorry 'Meta', and the like have been fighting against. But the consequence of that is limiting someones free speech.. so they say. It's an interesting dilemma.

 

I saw an article headline (didn't care enough to read) that some of twitter's major stake holders were going to block the sale?

If those platforms were really free, then the "free speech" argument has legs.  The problem for these companies is they need to monetize their platforms.  There are really only 2 options.  A subscription model, which most users won't do, or implementing advertisements.  The latter puts you at the whims of the advertisers.  Advertisers for most, if not all companies are not going to want their products advertised next to posts or videos praising Hitler etc.  So this "censorship" has more to do with these platforms trying to preserve their bottom lines rather than serving the public good.  And I really don't see how Musk could turn that around and not face financial issues.