Elon Musk's on-again off-again Twitter deal is back on

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Tesla CEO Elon Musk has reportedly renewed his $44 billion offer for Twitter, with news of the potential purchase sending shockwaves across Wall Street.




Musk and Twitter has a strained relationship, ever since the Tesla chief offered to buy the company then withdrew over supposed bot issues. In the latest salvo of the affair, Elon seemingly once again wants to take control of Twitter.

Sources of Bloomberg with knowledge of the offer, claim that Musk has renewed his offer to buy Twitter. Details of the new attempt have yet to surface, but the proposal letter from Musk has been independently confirmed by CNBC.

Following the publication of the report, shares in Twitter surged by 15%, with the stock later halted.

In April, Musk offered to purchase Twitter outright for $44 billion, at a price of $54.20 per share. However, one month later, Musk put the purchase on hold over a disagreement about spam accounts, demanding proof on claims by Twitter that fewer than 5% of users on the service were fake.

After threatening to walk away from the deal after assurances from Twitter CEO Parag Agrawl, Musk started the process to exit the deal in July. That same month, Twitter sued Musk in an attempt to force the billionaire into buying the platform at the agreed price.

The two sides were heading towards a courtroom battle on October 17 over the affair.

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Comments

  • Reply 1 of 17
    hmlongcohmlongco Posts: 412member
    Well... ****.
    watto_cobra
  • Reply 2 of 17
    DAalsethDAalseth Posts: 2,409member
    A couple of possibilities:
    This is a false rumours that either came out of wishful thinking by some analyst, possibly to pump the stock.
    This is real, but Musk is offering well below his original price and hoping Twitter will bite on this trial balloon.
    This is real because Musk has realized he’s going to lose in court, and just wants to get it over with.

    dewmeFileMakerFellerJaiOh81watto_cobra
  • Reply 3 of 17
    I find it hard to believe that less than 5% of twitters users are fake. This seems like they carefully worded a statement to only cover a small subset of fake accounts. 
    williamlondonwatto_cobra
  • Reply 4 of 17
    DAalsethDAalseth Posts: 2,409member
    docbburk said:
    I find it hard to believe that less than 5% of twitters users are fake. This seems like they carefully worded a statement to only cover a small subset of fake accounts. 
    Agreed. I think most media sites have over that, Reddit, Tumblr, FB, etc. 
    Heck, I suspect at least 5% of the accounts HERE on AI are fake. 
    watto_cobra
  • Reply 5 of 17
    ronnronn Posts: 559member
    I wouldn't trust him even if his tongue was notarized. I'd continue with the court case unless he tells the judge that he will complete the transaction.

    https://twitter.com/TwitterIR/status/1577380758192197632

    Twitter issued this statement about today's news: We received the letter from the Musk parties which they have filed with the SEC. The intention of the Company is to close the transaction at $54.20 per share.

    watto_cobra
  • Reply 6 of 17
    Fred257Fred257 Posts: 210member
    What does Musk have anything to do with Apple and their products? Nothing… I hate this guy and his big mouth and I have no idea why you put it here. Could you please enlighten us?
    elijahgwatto_cobra
  • Reply 7 of 17
    docbburk said:
    I find it hard to believe that less than 5% of twitters users are fake. This seems like they carefully worded a statement to only cover a small subset of fake accounts. 
    That is the FUD being spread by Musk. Twitter acknowledges that fake accounts are a problem and they work to remove those. They also have a process for determining their number of "monetised" users, which is less than 95% of their registered users. The specific claim Twitter makes is that fake accounts comprise less than 5% of this reduced number because they are fairly stringent in their testing.

    The financial implications are that the monetised user figures are pretty darned accurate, company revenue is therefore not being materially affected by the presence or absence of fake accounts in this user pool, and any proposal to purchase the company can be made with the assumption that the published figures represent a true and accurate picture of Twitter's financial position.

    Any difference between a "rational" analysis of the business to arrive at a share price and the price offered by a potential purchaser is chalked up to "Goodwill" (which can be a negative number) and that gets depreciated over a number of years. If you're offering more than the fair market value of the net assets of the business then you believe the Goodwill can be converted into real assets; if you don't then either don't make the offer or withdraw it after you've seen the accounts. Because demonstrating the accounts takes time and effort, the business in question will often impose a cancellation fee if the potential purchasers backs out. This all gets negotiated upfront.
    ronnwilliamlondonwatto_cobra
  • Reply 8 of 17

    Tesla CEO Elon Musk has reportedly renewed his $44 billion offer for Twitter, with news of the potential purchase sending shockwaves across Wall Street.
    Because Wall Street is clearly populated by the sort of people who react to rumours as though they were fact, under the assumption that if you don't move fast enough someone else will beat you to the deal.

    I like Warren Buffet's advice: behave as though you can only invest in 40 stocks in your lifetime.
    watto_cobra
  • Reply 9 of 17
    This is playing out like Eternal Sunshine of the Spotless Mind.
    anoyllawatto_cobra
  • Reply 10 of 17
    I think his lawyers told him he’s not going to win the case in Delaware. Still hoping this doesn’t happen though.
    williamlondonwatto_cobra
  • Reply 11 of 17
    DAalsethDAalseth Posts: 2,409member
    JaiOh81 said:
    I think his lawyers told him he’s not going to win the case in Delaware. Still hoping this doesn’t happen though.
    It’s looking more and more like that’s what’s going on. He signed a contract and the court was going to make sure that he abides by it. That’s a good thing. That he will end up owning Twitter, well I can’t see that he could make it any worse. I’ve tried it on several occasions, each time it was worse than the previous. The last time I lasted two days before the cesspool flood of bile and things I was trying to block, but kept appearing anyway drove me to shut my account down. I honestly can’t see how he could make it worse, which is too bad. I keep thinking that there could be some good material there, it could be a good source. But as Twitter is now I won’t even click on a link to a Twitter post on another site. It’s just so vile. 
    williamlondonwatto_cobra
  • Reply 12 of 17
    tshapitshapi Posts: 358member
    I suspect this is because he didn’t have a complete win in court and his investors are now correctly lined up. 
    watto_cobra
  • Reply 13 of 17
    Ummm... not so fast.

    Wait and see.
    watto_cobra
  • Reply 14 of 17
    docno42docno42 Posts: 3,729member
    DAalseth said:
    This is real because Musk has realized he’s going to lose in court, and just wants to get it over with.

    I think the blowback Musk got for his poll on ending the conflict in Ukraine pushed him over the edge.  When he first launched it, it was overwhelmingly yes then there was a tsunami of no votes - someone sicced the bots on it.  I think he's just sick of the crap on Twitter and he fully intends to reverse the constant propaganda and gaslighting.

    And I'm all for it.  Funny how the left loved to trumpet Twitter was a public company and could do anything they want and if you didn't like it just start your own platform.  Now that one of their pet mouthpieces is getting neutered all the sudden it's pRoBlEmAtIc that Twitter is going to be even more private.  Freaking hypocrites.  
    edited October 5 watto_cobra
  • Reply 15 of 17
    crowleycrowley Posts: 10,453member
    Whatever happens, I hope Elon loses a lot of money. What a twat.
    watto_cobraronn
  • Reply 16 of 17
    tmaytmay Posts: 5,813member
    docno42 said:
    DAalseth said:
    This is real because Musk has realized he’s going to lose in court, and just wants to get it over with.

    I think the blowback Musk got for his poll on ending the conflict in Ukraine pushed him over the edge.  When he first launched it, it was overwhelmingly yes then there was a tsunami of no votes - someone sicced the bots on it.  I think he's just sick of the crap on Twitter and he fully intends to reverse the constant propaganda and gaslighting.

    And I'm all for it.  Funny how the left loved to trumpet Twitter was a public company and could do anything they want and if you didn't like it just start your own platform.  Now that one of their pet mouthpieces is getting neutered all the sudden it's pRoBlEmAtIc that Twitter is going to be even more private.  Freaking hypocrites.  
    LOL!

    If only Elon really was the genius that he believes he is, and not his actual narcissistic self, he would have secured funding prior to making a play for Twitter.

    "Funding secured" was fraud then, to pump up his stock, and its fraud now.

    Good luck on funding it now.

    https://www.mayoclinic.org/diseases-conditions/narcissistic-personality-disorder/symptoms-causes/syc-20366662

    Narcissistic personality disorder — one of several types of personality disorders — is a mental condition in which people have an inflated sense of their own importance, a deep need for excessive attention and admiration, troubled relationships, and a lack of empathy for others. But behind this mask of extreme confidence lies a fragile self-esteem that's vulnerable to the slightest criticism.

    A narcissistic personality disorder causes problems in many areas of life, such as relationships, work, school or financial affairs. People with narcissistic personality disorder may be generally unhappy and disappointed when they're not given the special favors or admiration they believe they deserve. They may find their relationships unfulfilling, and others may not enjoy being around them.

    Treatment for narcissistic personality disorder centers around talk therapy (psychotherapy).

    Fits both Trump and Musk like a glove...


    watto_cobramuthuk_vanalingamronn
  • Reply 17 of 17
    crowley said:
    Whatever happens, I hope Elon loses a lot of money. What a twat.
    It never ceases to amaze me how 'us' becomes 'them' when ones gives things enough time. I am old enough to remember how Apple and Jobs were endlessly (certainly for decades) vilified and laughed at and the object of incessant smugness by the likes of you, except that they happened to be Microsofters, PC-ers and Androiders.

    Your post here captures the essence of the utter vacuity of our socio-political-tech discourse today. What an embarrassment for a 10,000+ AppleInsider poster.

    PS: I'd be curious to hear from you what Elon Musk has done to you or your family or your dog or, for that matter, anyone you know, to justify your apparent ad hominem hatred.
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