Elon Musk Deal to Buy Twitter Is Done, Musk Appears to Confirm

[Kamaji]

Elon Musk Deal to Buy Twitter Is Done, Musk Appears to Confirm

By Bonchie | Apr 25, 2022 1:00 PM ET

Per my earlier reporting, multiple news outlets, including Bloomberg, Reuters, and The Wall Street Journal, all announced that Twitter and Musk were nearing an imminent deal on Monday morning, with a possible announcement happening as early as Monday afternoon. That came as a surprise after many assumed that the deal was on life-support following the Twitter board’s execution of a poison pill to keep Musk from gaining a majority stake.

Source:  https://redstate.com/bonchie/2022/04/25/elon-musk-deal-to-buy-twitter-is-done-musk-appears-to-confirm-n555719

[Kamaji]

Musk's latest tweet, and the basis for the author's conclusion:

https://twitter.com/elonmusk/status/1518623997054918657

[Ghost Bear]

Twitter set to accept Musk's $43 billion offer

NEW YORK, April 25 (Reuters) - Twitter Inc (TWTR.N) is poised to agree a sale to Elon Musk for around $43 billion in cash, the price the CEO of Tesla has called his "best and final" offer for the social media company, people familiar with the matter said.

Excerpted, read more here: https://www.reuters.com/technology/exclusive-twitter-set-accept-musks-best-final-offer-sources-2022-04-25/

[Kamaji]

One wonders if the agreement to the buyout deal comes with limitations on Musk's ability to clean out the existing board of directors and appoint new directors.

[Hoodat]

Twitter set to accept Musk's $43 billion offer

NEW YORK, April 25 (Reuters) - Twitter Inc (TWTR.N) is poised to agree a sale to Elon Musk for around $43 billion in cash, the price the CEO of Tesla has called his "best and final" offer for the social media company, people familiar with the matter said.

Excerpted, read more here: https://www.reuters.com/technology/exclusive-twitter-set-accept-musks-best-final-offer-sources-2022-04-25/

Donald Trump's Twitter account reactivated in  . . . five . . . four . . . three . . . two . . .

[Cyber Liberty]

Donald Trump's Twitter account reactivated in  . . . five . . . four . . . three . . . two . . .

Maybe, but Trump is not likely to post on it as long as he's trying to make a go of his iPhone-only social media project.  It's looking a lot like a money pit, and it's stupid to not have an Android app yet.

[Hoodat]

Maybe, but Trump is not likely to post on it as long as he's trying to make a go of his iPhone-only social media project.  It's looking a lot like a money pit, and it's stupid to not have an Android app yet.

Apple has been dead to me for a long time.

[mystery-ak]

Twitter accepts buyout, giving Elon Musk total control of the company
18 comments

Elon Musk will buy Twitter for $44 billion
By Emma Roth and Russell Brandom Apr 25, 2022, 2:51pm EDT

Twitter has accepted Elon Musk’s offer to purchase the company for $44 billion, the company announced in a press release today. Musk purchased the company at $54.20 a share, the same price named in his initial offer on April 14th.

“Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated,” said Musk in a statement included with the release. “I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spam bots, and authenticating all humans.”

"“Free speech is the bedrock of a functioning democracy” "

Twitter CEO Parag Agrawal also applauded the deal in the release. “Twitter has a purpose and relevance that impacts the entire world,” Agrawal said in an accompanying statement. “Deeply proud of our teams and inspired by the work that has never been more important.”

Musk laid out his plan for funding the deal in an SEC filing on Thursday, which includes $25.5 billion in loans and $21 billion in personal equity. Analysts believe the loans could cost Twitter as much as $1 billion a year in servicing fees, or roughly 20 percent of the company’s annual revenue.

more
https://www.theverge.com/2022/4/25/23028323/elon-musk-twitter-offer-buyout-hostile-takeover-ownership

[Kamaji]

Let's hope that this doesn't just turn out to be a so-called "white elephant" for Mr. Musk.

[Cyber Liberty]

Let's hope that this doesn't just turn out to be a so-called "white elephant" for Mr. Musk.

His first order of business is to flush out the booby traps left behind, and then sacking all current Board Members.

[Fishrrman]

[DCPatriot]

Maybe, but Trump is not likely to post on it as long as he's trying to make a go of his iPhone-only social media project.  It's looking a lot like a money pit, and it's stupid to not have an Android app yet.

IMHO, this isn't 'over' by a longshot.

1) There will be severe restructuring of the sale price once Musk proves that 50% of Twitter accounts are phony.

2) The sellers of Twitter will sabotage the algorithms in an attempt to hide that fact.

3) They will take the proceeds and startup a new site for which current Socialists are fleeing Twitter.

4) Rumble is the one that is tremendously hurt by this sale.  It was to be an alternate choice for a "free speech" platform.

[Wingnut]

[mountaineer]

Check the dates. Leftist tears are so satisfying.

[Kamaji]

Check the dates. Leftist tears are so satisfying.

Yes, yes they are!

[Right_in_Virginia]

Disclose.tv
@disclosetv

JUST IN - Twitter's source code is locked down to make it harder for employees to make unauthorized changes to the platform, Bloomberg reports.

4:38 PM · Apr 25, 2022·Twitter Web App

[LMAO]

 

[mystery-ak]

Lance Gooden
@Lancegooden
·
5h
Elon Musk is buying Twitter.

CNN+ is shutting down.

Disney is being reined in.

It's a bad time to be woke.

[mystery-ak]

https://twitter.com/RealJamesWoods/status/1518665228388499456

[mountaineer]

Lance Gooden
@Lancegooden
5h
Elon Musk is buying Twitter.

CNN+ is shutting down.

Disney is being reined in.

It's a bad time to be woke.

A few small victories, but we haven't won the war.

[240B]

IMHO, this isn't 'over' by a longshot.

1) There will be severe restructuring of the sale price once Musk proves that 50% of Twitter accounts are phony.

2) The sellers of Twitter will sabotage the algorithms in an attempt to hide that fact.

3) They will take the proceeds and startup a new site for which current Socialists are fleeing Twitter.

4) Rumble is the one that is tremendously hurt by this sale.  It was to be an alternate choice for a "free speech" platform.

There is a shredder party happening now in Twitter HQ, FBI, various Media Moguls, big Pharma, and bureaucracies all over DC. The biggest surprise for Musk will be how embedded Twitter is in government and the billionaire corporate class, in shaping narratives to the way they want it to be molded by Twitter.

[Right_in_Virginia]

We’re back.— Tucker Carlson (@TuckerCarlson) April 25, 2022

[mystery-ak]

A lot of people coming back...how will this affect TruthSocial now...hmmmm!

[240B]

A lot of people coming back...how will this affect TruthSocial now...hmmmm!

Wonder when Trump will show up?

[roamer_1]

4) Rumble is the one that is tremendously hurt by this sale.  It was to be an alternate choice for a "free speech" platform.

@DCPatriot

No... Rumble is more of an alt-youtube.

I think you are thinking of gab or parler or gettr...

[DCPatriot]

@DCPatriot

No... Rumble is more of an alt-youtube.

I think you are thinking of gab or parler or gettr...

@roamer_1

Ouch!  my bad...thanks!     Never been on Twitter once!

[roamer_1]

@roamer_1

Ouch!  my bad...thanks!     Never been on Twitter once!

@DCPatriot

  Me neither. Howling and caterwauling in 240 chars or less. Bleah. I gravitate to long debates... the 'intellectual dark web' as they call it. Shapiro, Rubin, Peterson... I don't think one can grasp anything without without reasoned amicable debate. And that cannot happen on twitter.

[DCPatriot]

@DCPatriot

  Me neither. Howling and caterwauling in 240 chars or less. Bleah. I gravitate to long debates... the 'intellectual dark web' as they call it. Shapiro, Rubin, Peterson... I don't think one can grasp anything without without reasoned amicable debate. And that cannot happen on twitter.

@roamer_1

LOL!  Now that you mention it, wondering how much 'Moderators' are going to be paid and are THEY going to be moderated themselves?

[Elderberry]

His first order of business is to flush out the booby traps left behind, and then sacking all current Board Members.

As twitter is going private there won't be Board Members anymore.

[roamer_1]

@roamer_1

LOL!  Now that you mention it, wondering how much 'Moderators' are going to be paid and are THEY going to be moderated themselves?

@DCPatriot

It always comes down to 'who decides?' and 'who counts the votes?' . Don't it though?

Unlike others, I can't put a lot of faith into a big-tech guy with global reach. That's pointing in a different direction than it seems, according to the narrative.

[Kamaji]

As twitter is going private there won't be Board Members anymore.

Why not?   All corporations are required to have a board of directors, whether public or private.  A private corporation in most states can have just one director, but with an operation the size of twitter, I’m quite certain they’ll need a board consisting of several directors.

[mystery-ak]

Twitter staff are told in emergency meeting that their jobs are only safe for six months until Musk completes his $44bn takeover as they demand to know if they will be forced to return to office

    Some Twitter staff have reacted with horror to Elon Musk's takeover of the company, according to internal chats shared online

    The company has frozen planned changes to the service until Friday, amid what Bloomberg speculated was concern that a rogue employee could 'push something or mess with the product on the way out the door'

    In message rooms staff vented about their trepidation over working for the mercurial South African
    Others in a staff meeting held at 5pm ET worried whether they would still be able to work from home, and asked about their share options

    CEO Parag Agrawal told staff that their jobs were safe for the moment, saying there would be no layoffs until Musk took over in six months, and reassuring them about their stock options and benefits

    He would not be drawn on whether Donald Trump would be allowed back to the platform: Trump said on Monday he has no wish to, and Agrawal said it was a decision for the Musk

    Agrawal said he was 'proud of our teams and inspired by the work that has never been more important'

    Chair Bret Taylor said the board 'conducted thoughtful and comprehensive process to assess Elon's proposal'

    The founder of Tesla and SpaceX, 50, agreed to pay shareholders $54.20 in cash for each share

    The move shifts control of the social media platform populated by millions of users to the world's richest man

    The Tesla magnate vowed to protect free speech online, 'defeat the spam bots' and 'authenticate all humans'

    He said he would 'enhance the product with new features' and 'make algorithms open source to increase trust'

By James Gant and Harriet Alexander For Dailymail.com

Published: 07:47 EDT, 25 April 2022 | Updated: 19:29 EDT, 25 April 2022

more
https://www.dailymail.co.uk/news/article-10751017/Elon-Musk-seize-Twitter-TODAY-talks-reach-final-stages.html

[Cyber Liberty]

Disclose.tv
@disclosetv

JUST IN - Twitter's source code is locked down to make it harder for employees to make unauthorized changes to the platform, Bloomberg reports.

4:38 PM · Apr 25, 2022·Twitter Web App

That's the equivalent of having HR walk into your office and saying, "Log off your computer this instant and come with me and Security."

[DCPatriot]

That's the equivalent of having HR walk into your office and saying, "Log off your computer this instant and come with me and Security."

@Cyber Liberty

What's to keep the 'sellers' from already making duplicate of the mainframe skeleton...and plugging it back in at the new place?   

[240B]

That's the equivalent of having HR walk into your office and saying, "Log off your computer this instant and come with me and Security."

The way most tech people know they have been downsized or fired is when they cannot login, or they can no longer enter the building. HR will log you off whether you are at your terminal or not. Security is usually done in private as to not upset the workplace. Usually they will lure you off to somewhere private like a conference room. They bring you all your desk stuff and walk you out. The point is to keep it low key for moral purposes.

[Right_in_Virginia]

Carlson:  "Musk's purchase of Twitter is the single biggest political development since Donald Trump's election in 2016. It is certainly the most threatening challenge to the corrupt & incompetent leadership of this country."  (Video)

https://mobile.twitter.com/ColumbiaBugle/status/1518751563518562309

[Right_in_Virginia]

I’ve never been a proponent of electric cars, nor do I ever wish to fly into space.

That said, @elonmusk is a hero. He proved that capitalism will crush socialism every time. #BravoElonMusk— James Woods (@RealJamesWoods) April 26, 2022

[Right_in_Virginia]

 

"Absolutely incredible:"  (MSNBC Video)

https://mobile.twitter.com/bennyjohnson/status/1518777886668374016

[DB]

So...

Those "banned for life" were really only banned for the life of those leftist low life's that were in charge...

LOL!

[catfish1957]

I also heard, but unconfirmed that CNN+ died today. 

What a great day of news on the media front.   

[catfish1957]

One wonders if the agreement to the buyout deal comes with limitations on Musk's ability to clean out the existing board of directors and appoint new directors.

Saw on my financial ticker, he might take TWTR private, like he has SpaceX now.  If that happens, any particulars around the board are moot.

[catfish1957]

I grin with the thought, that probably some low level IT moderation wank suspended him, and this ended up being the final result.

I used to despise Musk and his Tesla subsidies chow wagon, but now all is forgiven.  But don't forget....   Musk is a lot more of a Libertarian than Conservative.  I can guarantee that there will be further actions and things said by him, that might not be liked by our side.

But for now....   CELEBRATE...   Whacky Jack Dorsey is now as revelant  as the mold on your patio furniture, and as useful.

[Sighlass]

I remade a Twitter account today... we will see if it becomes less toxic with a new person in charge. Honestly not holding my breath.

[catfish1957]

I remade a Twitter account today... we will see if it becomes less toxic with a new person in charge. Honestly not holding my breath.

Keyboard warriors around?  It will be toxic and war.  But now at least this thing may be moderated in an equitable manner.

[Right_in_Virginia]

Elon Musk
@elonmusk

By “free speech”, I simply mean that which matches the law.

I am against censorship that goes far beyond the law.

If people want less free speech, they will ask government to pass laws to that effect.

Therefore, going beyond the law is contrary to the will of the people.

3:33 PM · Apr 26, 2022·Twitter for iPhone

[Right_in_Virginia]

[Right_in_Virginia]

Elon Musk
@elonmusk

By “free speech”, I simply mean that which matches the law.

I am against censorship that goes far beyond the law.

If people want less free speech, they will ask government to pass laws to that effect.

Therefore, going beyond the law is contrary to the will of the people.

3:33 PM · Apr 26, 2022·Twitter for iPhone

Mike Davis
@mrddmia

Looks like Twitter is going to use the First Amendment as its guide to censorship.

Meaning, if the U.S. government cannot legally censor the speech, Twitter won’t either.

That’s a very good thing.

4:02 PM · Apr 26, 2022   Twitter for iPhone

[berdie]

This melt down is keeping me amused.

[240B]

"Absolutely incredible:"  (MSNBC Video)

https://mobile.twitter.com/bennyjohnson/status/1518777886668374016

The American Left has absolutely NO self awareness at all. None. Zero.
Everything he said is EXACTLY what Twitter did in the last election. Word for Word.

[Right_in_Virginia]

This melt down is keeping me amused.

Me, too