Good day all. As you should know by now, Elon Musk bought almost 10% of Twitter and then announced he wanted to buy the entire company and take it private. This triggered all the little moonbats, progressives and liberals demanding that Musk be stopped at all costs, otherwise he might force them to stop censoring speech they don’t approve of.
Soon after Musk announced his offer, the Board of Directors created what is called a “Poison Pill.” The short version is that they wanted to make it all but impossible for Musk to take over the company. There are several problems with this of course. The big one being that it violates the board’s fiduciary responsibility to the shareholders of Twitter.
Meanwhile, Elon Musk doubled down and move to secure the financing he needs to take Twitter private. Last week, he secured the financing. This, along with a scheduled shareholders meeting and vote, meant that there was a good chance that Musk would win his bid. This would also mean that the Board of directors, at least those who opposed the buyout, may have been held personally liable once the shareholder lawsuits began. Now the Board is reconsidering Elon Musk’s offer. Here are the details from the Post Millennial:
Twitter is reportedly re-examining SpaceX and Tesla CEO Elon Musk’s $43 billion offer to buy the Big Tech company after he revealed that he has now secured $46.5 billion for the potential buyout.
According to The Wall Street Journal, Twitter had been ready to reject the offer, but will take a new look at it after the business magnate revealed his filing with the SEC showing that he has lined up financing for the offer.
As I mentioned earlier, the Board rejecting Musk’s offer, and Musk pulling his investment and wal;king away, would have opened the board major legal problems. Musk’s offer would provide all the shareholders a nice profit. If Elon Musk were denied and walked away, there is a better then even chance that Twitter’s stock price would crater, possibly, even the company going out of business.
Some of the people said that Twitter is still working on an estimate of its own value, and could also insist on sweeteners for the deal such as Musk covering breakup costs if the deal falls through.
The value of Twitter is what people are willing to pay for it. Currently, Twitter’s stock price is $48.93/share as of Friday, April 22nd. As to Musk paying any costs if the deal falls through, that depends on if it the collapse was Twitter’s fault or Musk’s. I don’t see Musk doing anything that that will hurt him. That’s why he decided against joining the Board of Directors.
The two sides are reportedly meeting on Sunday to discuss Musk’s offer.
Oh to be a fly on the wall with a recording device.
The company is expected to address on the bid when it reports first-quarter earnings Thursday, if not sooner, the people said. Their response could leave the door open to other bidders, or negotiating with Musk on terms not included in the price.
From what I’ve heard, since Musk announced his takeover bid, the Board has been trying to find some nice, rich progressive moonbat with $50 billion to buy twitter and protect the safe spaces for all the littler twitlers who work there. The problem here is that Rich Liberals, like their congressional counterparts, are happy to spend other people’s money, but when it comes to their own, they throw pennies around like they were cast iron manhole covers.
The potential turnaround from Twitter comes as Musk met with several shareholders of the company privately on Friday to talk up his proposal through a series of video calls. According to The Wall Street Journal, Musk reportedly has a few shareholders behind him following the meetings.
The major shareholders would like to be able to get out of this sinking ship. Twitter’s business model is, to be blunt, a joke, and with them banning anyone who they don’t like, especially the Greatest President of the 21st Century, Donald Trump, they are actually losing people. These are people who will follow President Trump to his new platform, Truth Social, once it comes out of beta and opens fully for business.
I suspect that Elon Musk is going to eventually take over Twitter. When that happens, all the littler twitlers who have happily suppressed and censored the speech of anyone they disagreed with are going to have a full on meltdown. Elon Musk, among other things, intends for Twitter to actually be profitable.
Now for the due diligence. I am not a stockholder in Twitter, nor is anyone else associated with Anger Central. However I do have a Twitter account and do post blog entries to it. You can find me on Twitter as the Angry Webmaster. (Like duh) While I post new blog entries and occasional other things to Twitter, I almost never see anything being retweeted. I’ve got an average of 150 followers. I actually have more followers and more interactions on GETTR. I suspect I’ve been shadow banned on Twitter because I’m not a barking moonbat. I do hope Elon Musk takes over and flushes all the crap out of Twitter. It would only get better.
Thatisall
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~The Angry Webmaster~
