Elon Musk is reportedly offering to buy Twitter again
On Tuesday, Elon Musk renewed his bid to buy social networking site Twitter for $44 billion, after previously trying to back out of the high-profile deal.
The Tesla billionaire proposed the price, which equates to an initial valuation of $54.20 per share, in a letter to Twitter filed Monday with the Securities and Exchange Commission.
Mr Moose broke his silence on the deal on Twitter late on Tuesday, writing: “Buying Twitter is an accelerator to create X, the app for everything.”
In July, Twitter sued Mr. Musk for what it said was his “misguided” attempt to cancel its bid, a case that could force the entrepreneur to acquire the company.
Without a settlement, the case is due to go to trial within days, with Mr Musk due to be impeached in Texas later this week.
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ICYMI: Experts Say Musk Was Ready To ‘Lose’ Case Against Twitter So He Bought Them
“Musk would have lost the case,” Eric Gordon, a professor of business law at the University of Michigan, told Insider.
“His lawyers knew that. Twitter’s lawyers knew this. His only hope was for Twitter to fail, and they didn’t.
(NTB/AFP via Getty Images)
Graham Massey October 5, 2022 5:03 am
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ICYMI: Twitter shares rose so fast after Musk’s buyout offer NYSE had to halt trading
Twitter shares surged on October 4 after Elon Musk renewed his offer to buy the company
(Google Finance)
News that Elon Musk is trying to revive his bid to buy Twitter caused the social network’s stock price to soar that the New York Stock Exchange had to temporarily halt trading twice, the Wall Street Journal reported.
Such pauses, established since the “Sudden Crash” of 2010, begin when stocks in major indexes change in price by more than 5 percent within five minutes.
Shares in Twitter rose at least 13 percent at various points on Tuesday after Mr. Musk said he would go back on his original $44 billion offer to buy the social media site.
Graham Massey October 5, 2022 4:10 am
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ICYMI: Why Twitter is Suing Elon Musk
Twitter sued Elon Musk in July, arguing that the tech billionaire was legally bound to complete its $44 billion acquisition of the social network after the Tesla CEO said he wanted out of the deal.
Twitter argued that leaving the deal was “void and unlawful” under the terms of an April contract, according to a letter sent to Mr. Musk’s lawyers.
The company ripped Mr Musk in a legal complaint filed in a Delaware court, saying the billionaire “apparently believes that he – unlike any other party subject to Delaware contract law – is free to change his mind, destroy the company, disrupt its operations, destroy shareholder value and walk away.
Here is more information.
Graham Massey October 5, 2022 02:45 am
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Observers worry that Elon Musk’s buyout could turn Twitter into a “surge engine of radicalization.”
The news that Elon Musk reiterated his initial $44 billion bid to buy Twitter sent shockwaves through Silicon Valley, Wall Street, and of course, a lot of discussion about the app itself.
The most important audience for the move, Twitter Inc, met the announcement with little fanfare, simply confirming that it had been received and describing how the social network “intended” to make the deal happen.
Josh Marcus knows the story.
Observers worry Musk could turn Twitter into ‘radicalization engine’
Many observers are worried about the changes coming to the social platform
Graham Massey October 5, 2022 1:50 am
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An expert on fascism and propaganda criticizes Elon Musk’s purchase on Twitter
“Everything is just a means to a megalomaniac end for this individual,” New York University professor Ruth Ben-Ghiat tweeted after Mr Musk broke his silence on Twitter’s proposed $44 billion purchase.
Graham Massey October 5, 2022 12:52 am
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Twitter users criticize Elon Musk’s proposed takeover
It didn’t take long for Twitter users to take to the platform and denounce Elon Musk’s proposed $44 billion acquisition of the company.
“Neither Musk nor current Twitter management seem to care much about Twitter’s users or employees,” tweeted Judd Legum.
And NFL reporter Mike Freeman of USA Today criticized him as well.
“Take a good look at Twitter. Because if you think racists, trolls and trash bag men are already in power, wait until Musk runs it. It will be unrecognizable. Most of us will head for the escape pods,” he tweeted.
Graham Massey October 5, 2022 12:25 am
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Elon Musk has broken his silence on the Twitter purchase and offers a vision for the future of the platform
Elon Musk has broken his silence on his proposed $44 billion purchase of Twitter and offered a vision for the future of the social media platform under his ownership.
The Tesla billionaire and SpaceX CEO took to Twitter on Tuesday to say that the acquisition of Twitter is the first step in creating a new “X” app similar to China’s WeChat.
Elon Musk has broken his silence on the Twitter purchase and offers a vision for the future of the platform
The billionaire tweeted that buying the company “is an accelerator to create X, the app for everything.”
Graham Massey October 5, 2022 12:20 am
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ICYMI: Zelensky hits back at Elon Musk’s ‘insane’ Twitter poll on Russia-Ukraine peace
Ukrainian President Volodymyr Zelensky hit back at Elon Musk’s “insane” Twitter poll about Russia-Ukraine peace proposals.
The Tesla titan took to Twitter and offered a series of ideas to resolve the eight-month conflict, asking his followers to vote yes or no on his proposals, which include formally allowing Russia to annex Crimea.
Zelensky responded to Elon Musk’s “crazy” poll on Twitter about peace in Russia and Ukraine
The head of state asked his 6.6 million followers which version of the billionaire they liked better
Graham Massey October 4, 2022 11:56 pm
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Elon Musk broke his silence on the offer on Twitter
The billionaire took to Twitter on Tuesday afternoon to talk about his vision for Twitter.
“Buying Twitter is an accelerator to make X, the app for everything,” he tweeted.
Graham Massey October 4, 2022 11:43 pm
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How Twitter responded to Elon Musk’s letter
Elon Musk offers to buy Twitter for a second time
Graham Massey October 4, 2022 11:10 pm
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