Elon is slowly walking away. And Twitter's board, with a now 20% market correction afoot, would like to see him pay $54.20 for the company.
I expect that won't happen. But the board is formally giving him the bot data, as Anon. showed us (H/T!) as we speak -- just to say. . . we won't let you escape that easily, Elon.
[Recall that the bot data has long been public information (and is now part of a class action) -- in fact, Musk referenced the SEC settlement related to it, in a tweet of his own about nine months ago, in September of 2021. Cheeky.]
In any event, here is the latest:
. . .Now, in an effort to close the deal, Twitter will offer Musk and his team access to its full “firehose” of raw data from the social platform, which includes 500 million-plus tweets posted daily, as early as this week, the Post reported.
When Musk inked the deal in April to buy Twitter, he waived his right to conduct deep due diligence on the company’s operations. Musk is on the hook to pay a $1 billion breakup fee if he walks away from the deal (and could be the target of lawsuits by Twitter shareholder or Twitter itself) unless he can demonstrate that Twitter significantly misled him about factors related to the company’s value. Wall Street has viewed Musk’s saber rattling over the spam/bot percentage as an attempt to drive down the deal price, or to give him a pretext to nix the acquisition. . . .
So it goes. Ultimately the central losers here (as Twitter will be fine, post Musk). . . will be the long term, non-Musk affiliated Tesla shareholders -- who've seen Musk crater their stock price, with these stupid antics.
The guy's cheese now slides all the way off. . . his cracker.
नमस्ते
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