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a musky smell?!.....breaking news: Elon Musk offers $41.4B to buy Twitter....
Posted by: NewtonMP2100
Date: April 14, 2022 06:18AM
....breaking news....


Elon Musk offers to buy Twitter for $43 billion, so it can be 'transformed as private company'

Elon Musk offered to buy Twitter for $54.20 a share.
"I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy," Musk wrote in a letter sent to Twitter Chairman Bret Taylor.

....Elon Musk offered to buy Twitter for $54.20 a share, saying the social media company needs to be transformed privately, a little over a week after first revealing a 9.2% stake in the company. Musk's offer values Twitter at about $43 billion.

"I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy," Musk wrote in a letter sent to Twitter Chairman Bret Taylor and disclosed in a securities filing.

According to Musk, the social media company needs to go private because it can "neither thrive nor serve" free speech in its current state.

"As a result, I am offering to buy 100% of Twitter for $54.20 per share in cash, a 54% premium over the day before I began investing in Twitter and a 38% premium over the day before my investment was publicly announced," he wrote. "My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder."

Twitter shares jumped 12% in premarket trading after closing at $45.85 a share on Wednesday.

"The Twitter Board of Directors will carefully review the proposal to determine the course of action that it believes is in the best interest of the Company and all Twitter stockholders," the company said in a statement.

Musk first disclosed his stake in the social media giant on April 4. He later landed a seat on the company's board of directors before reversing those plans.

The Tesla CEO has previously criticized the social media giant publicly, polling people on Twitter last month about whether the company abides by free speech principles. He also said he was considering building a new social media platform.

Shares of Twitter have seesawed in recent weeks amid the news from Musk, but are up 6% this year and 18.5% since the start of the month.

Tesla's stock dipped 1% on the news.

Here is the letter Musk sent as disclosed in a securities filing:

I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy.

However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company.

As a result, I am offering to buy 100% of Twitter for $54.20 per share in cash, a 54% premium over the day before I began investing in Twitter and a 38% premium over the day before my investment was publicly announced. My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder.

Twitter has extraordinary potential. I will unlock it.
Elon Musk



what the heck......?!



_____________________________________

I reject your reality and substitute my own!



Edited 4 time(s). Last edit at 04/14/2022 07:52AM by NewtonMP2100.
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Re: a musky smell?!.....breaking news: Elon Musk offers $41.4BN to buy Twitter....
Posted by: mattkime
Date: April 14, 2022 07:27AM
Ug, noooooooo



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Re: a musky smell?!.....breaking news: Elon Musk offers $41.4BN to buy Twitter....
Posted by: cbelt3
Date: April 14, 2022 07:51AM
he still gets in trouble with the SEC all the time for being... well.. himself.

I wonder if he is styling himself after SF emperors of Space ?
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Re: a musky smell?!.....breaking news: Elon Musk offers $41.4B to buy Twitter....
Posted by: ztirffritz
Date: April 14, 2022 08:31AM
Elon does what he believes is best for humanity. Twitter is demonstrably bad for humanity in its current form. It's been weaponized. I believe he wants to make it more egalitarian. As it currently is, public opinion is able to be easily manipulated and polarized by bots, and people don't even realize it. If you haven't watched this yet, Destin Sandlin from the Smarter Everyday YouTube channel has a multi-part deep dive into social media manipulation on Twitter, Facebook, YouTube...

His episode on Twitter bots and Twitter manipulation:
[www.youtube.com]



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MacResource User Map: [www.zeemaps.com]#
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Re: a musky smell?!.....breaking news: Elon Musk offers $41.4BN to buy Twitter....
Posted by: mattkime
Date: April 14, 2022 08:43AM
There's a lot of aspects of this worthy of debate but I think one overrides them all - would he allow fascists to use Twitter?



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Re: a musky smell?!.....breaking news: Elon Musk offers $41.4B to buy Twitter....
Posted by: August West
Date: April 14, 2022 09:07AM
I don't follow him and understand he has many fans, but I don't find stability a strong suit. I should also say I don't use twitter either. My bottom line is, "Is this harming people?" If not, as the saying goes, you do you.



“There comes a point where we need to stop just pulling people out of the river. We need to go upstream and find out why they’re falling in."
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Re: a musky smell?!.....breaking news: Elon Musk offers $41.4B to buy Twitter....
Posted by: chopper
Date: April 14, 2022 09:24AM
Whooo hoooo
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Re: a musky smell?!.....breaking news: Elon Musk offers $41.4BN to buy Twitter....
Posted by: Ombligo
Date: April 14, 2022 09:29AM
Maybe he can buy Facebook and TikTok as well. Then shut them all down in the interest of humanity.



“No persons are more frequently wrong, than those who will not admit they are wrong.” -- François de La Rochefoucauld

"Those who cannot accept the past are condemned to revise it." -- Geo. Mathias
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Re: a musky smell?!.....breaking news: Elon Musk offers $41.4B to buy Twitter....
Posted by: Speedy
Date: April 14, 2022 09:33AM
$54.20. Give me a break. The guy has too much money for his own good.



Saint Cloud, Minnesota, where the weather is wonderful even when it isn't.
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Re: a musky smell?!.....breaking news: Elon Musk offers $41.4B to buy Twitter....
Posted by: jonny
Date: April 14, 2022 09:44AM
I'm not surprised Tesla's stock dropped 1%.
I hope he chokes on it.
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Re: a musky smell?!.....breaking news: Elon Musk offers $41.4B to buy Twitter....
Posted by: GGD
Date: April 14, 2022 10:42AM
Quote
Speedy
$54.20. Give me a break. The guy has too much money for his own good.

I was expecting the "$41.4B" to get rounded to "$42.0B"
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Re: a musky smell?!.....breaking news: Elon Musk offers $41.4B to buy Twitter....
Posted by: Bernie
Date: April 14, 2022 11:35AM
Assorted sources and rumor mills say

NEW Trump told Americano Media that he won’t return to Twitter even if Elon Musk buys it

President Trump told Americano media in a Wednesday evening show that he’s simply not interested in Twitter anymore, it’s become boring.

As we highlighted earlier, Musk is attempting to buy Twitter in order to restore it as “the platform for free speech around the globe.”

Meanwhile, the mere prospect of anything like that happening means Twitter HQ must be in absolute meltdown today…




Staunton, Virginia
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Re: a musky smell?!.....breaking news: Elon Musk offers $41.4B to buy Twitter....
Posted by: pRICE cUBE
Date: April 14, 2022 12:37PM
Elon Musk appears to be on track to becoming those villains you see in Bond movies.



Ways to improve web conference image and sound quality. [forums.macresource.com]


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Re: a musky smell?!.....breaking news: Elon Musk offers $41.4B to buy Twitter....
Posted by: Bernie
Date: April 14, 2022 01:12PM
Elon Musk Today During Ted2022 On Why He Is Offering to Buy Twitter

“My strong intuitive sense is that having a public platform that is maximally trusted & broadly inclusive is extremely important to the future of civilization.”

“I don’t care about the economics at all.”
edit
"Twitter has become kind of the de facto town square, so it's really important that people have both the reality and the perception that they're able to speak freely...so there's no sort of behind the scenes manipulation, either algorithmically or manually."




Staunton, Virginia
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Re: a musky smell?!.....breaking news: Elon Musk offers $41.4B to buy Twitter....
Posted by: vision63
Date: April 14, 2022 01:38PM
Quote
Bernie
Elon Musk Today During Ted2022 On Why He Is Offering to Buy Twitter

“My strong intuitive sense is that having a public platform that is maximally trusted & broadly inclusive is extremely important to the future of civilization.”

“I don’t care about the economics at all.”
edit
"Twitter has become kind of the de facto town square, so it's really important that people have both the reality and the perception that they're able to speak freely...so there's no sort of behind the scenes manipulation, either algorithmically or manually."

He's just a dude with money and toys.
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Re: a musky smell?!.....breaking news: Elon Musk offers $41.4B to buy Twitter....
Posted by: Bernie
Date: April 14, 2022 02:18PM
Like Elon or not.

This is the most interesting thing since #Gamestop




Staunton, Virginia
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Re: a musky smell?!.....breaking news: Elon Musk offers $41.4B to buy Twitter....
Posted by: ztirffritz
Date: April 14, 2022 02:32PM
Basically that thing I said above.

Quote
Bernie
Elon Musk Today During Ted2022 On Why He Is Offering to Buy Twitter

“My strong intuitive sense is that having a public platform that is maximally trusted & broadly inclusive is extremely important to the future of civilization.”

“I don’t care about the economics at all.”
edit
"Twitter has become kind of the de facto town square, so it's really important that people have both the reality and the perception that they're able to speak freely...so there's no sort of behind the scenes manipulation, either algorithmically or manually."



**************************************
MacResource User Map: [www.zeemaps.com]#
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Re: a musky smell?!.....breaking news: Elon Musk offers $41.4B to buy Twitter....
Posted by: ztirffritz
Date: April 14, 2022 03:41PM
Roughly 1 hour long interview with Elon from earlier today at the TED conference in Vancouver.

[youtu.be]



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MacResource User Map: [www.zeemaps.com]#
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Re: a musky smell?!.....breaking news: Elon Musk offers $41.4B to buy Twitter....
Posted by: jonny
Date: April 14, 2022 06:13PM
The board met on Thursday to discuss Mr. Musk’s offer to buy the company, according to one of the people, who wasn’t authorized to speak publicly. The directors are weighing whether to move ahead with the poison pill — formally called a shareholder rights plan — that would limit the ability of a single shareholder, like Mr. Musk, to acquire a critical mass of shares in the open market and force the company into a sale.

The poison pill defense is a common tactic used by companies that want to fend off unwelcome takeover offers. It essentially lets the company flood the market with new shares or allow existing shareholders other than the potential acquirer to buy shares at a discount. This dilutes the bidder’s stake and makes buying shares more expensive.
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