The first rule of deal-making is that you always have to be able to walk away from the table. This is what I tell people with regards to women – there is no possible way any relationship can work if you’re not ready to get up and walk away at any moment.
Elon is now saying he’s walking away from the Twitter deal.
Tesla and SpaceX founder Elon Musk has canceled his previously agreed $44 billion deal to buy Twitter, accusing the social media company of “material breach of multiple provisions” of the merger agreement in a letter on Friday evening.
Under the April 25 agreement, Twitter was obligated to provide Musk with the data he requested, in order to “make an independent assessment of the prevalence of fake or spam accounts on Twitter’s platform,” said the letter, sent by his attorneys to the company’s Chief Legal Officer Vijaya Gadde.
Musk said that information was necessary to finance and plan the buyout and “engage in transition planning” for the firm, but Twitter “failed or refused” to provide it, the lawyers said. The company either ignored his requests, “rejected them for reasons that appear to be unjustified,” or claimed to comply while giving Musk “incomplete or unusable information,” according to the letter.
The billionaire maker of spaceships and electric cars first disclosed a large purchase of Twitter shares in early April, then proposed to buy the platform outright. The company’s board at first sought to fight off the hostile takeover with “poison pills,” then accepted his offer on April 25.
I don’t know that this is a real thing he’s doing, or if he’s just showing he’s ready to walk away. My thought is that it’s just negotiation strategy posturing.
That seems to be the thought of investors as well, because Twitter stock only dropped 5% on the news.
Elon has said that he wants to run the Western version of China’s WeChat, and the reason he is buying Twitter is to turn it into that. He has said that if he can’t buy Twitter, he’ll start from scratch. But it would obviously be a lot easier to start from Twitter. And he’s already got the money.
Twitter is clearly lying about the number of bots, so it’s not surprising they would refuse to let him look at the data. But that’s ultimately only a couple billion difference on a deal he’s already got the money together for, and which will make that loss back quickly.
The other option is that he does have some dark secret that the media/intelligence agencies have dug up, and the Jews are telling him to back out or else. That’s possible. Seems unlikely though. I think he’s a pretty straightforward person, and only seems interested in old skanks. They already turned his kid into a tranny and dropped the news of his secret twins.
I’m certainly not happy with any news that the deal might not happen, but this doesn’t totally worry me. It seems to be posturing.