Musk Scraps $44 Billion Twitter Deal Over ‘Misleading Representations’

Elon Musk said he’s terminating his $44 billion agreement to acquire Twitter Inc. and take it private, saying the company has made “misleading representations” over the number of spam bots on the service.

Twitter hasn’t “complied with its contractual obligations” to provide information about how to assess how prevalent the bots are on the social medial service,” Musk said Friday in a letter to Twitter as part of a regulatory filing.

Musk Scraps $44 Billion Twitter Deal Over ‘Misleading Representations’

Oh look, Friday after hours news!

I think this is smart. Clearly Twitter is playing games and looking at the amount of followers gained/lost specifically along partisan lines is evidence of that.

Not to mention the stock prices vs purchase price.

54.20 per share was the buy price compared to $34.50 closing price today.

Im not on nor do I plan to be on Twitter FWIW.

I was really rooting for Musk to buy it

and shut down this ridiculous WOKE BULL #

This is a sad day..

Not only for America but for the world..

I can't blame him though, it is estimated to have 40-50% FAKE BOT ACCOUNTS..

He knows how worthless twitter financially is..

Here is the story from new york post has a video with it also

Tesla Chief Executive Officer Elon Musk said on Friday he was terminating his $44 billion deal for Twitter, saying that the social media company had failed to provide information about fake accounts on the platform.

Shares of Twitter fell 6% in extended trading.

In a filing, Musk’s lawyers said Twitter had failed or refused to respond to multiple requests for information on fake or spam accounts on the platform, which is fundamental to the company’s business performance.

In the Friday regulatory filing, Musk said Twitter “is in material breach of multiple provisions of that agreement” and appears to have made “false and misleading representations” when entering into the agreement.

MUSK BACKS OUT OF TWITTER

a reply to: starfoxxx

I dont think there is any putting the genie back in the bottle.

There will be legal fights over the $1B clause and even more info will get out.

Maybe Musk's intention wasn't to buy Twitter, but to expose it for that sham it- at all media- has become. A drawn out public court battle will expose more than just Twitter, so I don't think it will go that far.

Perhaps those with conservative views are finally starting to fight back? I'd love to see a more level playing field again.

Awe man! it was fun while it lasted. Lot of weird shifts in the paradime lately huh?

a reply to: nugget1 I like your train of thought on ths.

a reply to: nugget1

That would make quite abit of sense especially as in regards to his character.

It already didnt make financial sense.

Musk is basically saying the platform is 45% fake news engineered to make the 45% consumer drones look more credible when they pop off because fabricated outrage and memeology for the politically illiterate. He's better served just reinventing the wheel instead of buying the original with all the widgets and browser history and malware still attached.

a reply to: JinMI Everything today is fakery to appease robber barons. (shareholders)~

Did anyone here think Musk would part with 44 Billion for Twitter?

I for one never believed it. Honestly, how many idiots are being played by this guy?

I have to keep blocking promotions of this guy daily on Facebook, yet, they are still coming.

I don't, and never will understand, why some put people on such high pedestals. People like Musk, Trump, Obama. What is says to me is you don't think you're as good as them. And that's pretty sad. They lie, fart, puke, make jerks of themselves, and take dumps, just like you and me. The rest is just better window dressing.

originally posted by: nugget1
Maybe Musk's intention wasn't to buy Twitter, but to expose it for that sham it- at all media- has become. A drawn out public court battle will expose more than just Twitter, so I don't think it will go that far.

Perhaps those with conservative views are finally starting to fight back? I'd love to see a more level playing field again.

This is what I suspect -- strongly. Musk knows that way more than 5% of Twitter's accounts are bots or paid shills. It wouldn't surprise me a bit if it was 25%, 35%, or even more. For celebrities, it might well be the majority of followers aren't real.

I suspect that Musk is planning to start his own social media network, and decided to weaken the big dog first. It might even kill Twitter entirely, because if their subscriber numbers are fake, then they've essentially been scamming the advertisers.

Duplicate post. Sorry.

The president Twitter says he is going to force musk to buy the company.

originally posted by: MiddleInsite
Honestly, how many idiots are being played by this guy?

A lot of idiots, just not the ones you would name for sure.

Time to get some popcorn!

a reply to: AndyFromMichigan

" I suspect that Musk is planning to start his own social media network, and decided to weaken the big dog first. It might even kill Twitter entirely, because if their subscriber numbers are fake, then they've essentially been scamming the advertisers. "


I Agree with your Thoughts here . Musk is just " Flushing the Prey Out in the Open " to Set Up the Kill . That Dawg Hunts .

Dude literally took Twitter for a test drive heard Steve Miller Band take the money and run, and did such. Why are people mad about this though? Smart move if you used it temporarily for exposing it for what it really is.

Probably has more to do with him not actually having the money.
And that’s being serious…👍

originally posted by: carewemust
The president Twitter says he is going to force musk to buy the company.

Well, it is what they do ...force/mandate. All while brushing their toothbrush mustachio and giggling.

a reply to: Bluntone22

Probably has more to do with him not actually having the money.

he had the funds lined up,

Elon Musk has secured additional funding to purchase Twitter, according to financial filings made public on Wednesday, moving the billionaire closer to completing the high-profile deal. The Tesla CEO said in the regulatory filings he has increased his personal funding of the purchase from $27.3bn to $33.5bn and secured an additional $6.25bn in equity financing, reducing the amount of debt the entrepreneur would take on in the $44bn purchase.

Elon Musk has secured additional funding to acquire Twitter, filings say

even then he said that if twitter didn't come clean and prove that spam bots were less than 5% he wasn't going to buy it,

from the same link above,

The latest filing comes after Musk said last week his offer to buy Twitter would not move forward until the company shows proof that spam bots account for less than 5% of the platform’s total users, a move analysts suggest is meant to pressure Twitter to accept a lower sale price.

plus according to the the link above, backing out is gonna coast him 1 billion. i'm sure he'll never miss it, i wouldn't buy something that i asked to see and it was misrepresented or was not disclosed.

Experts say Musk cannot unilaterally place the deal on hold. If Musks walks away, he could be on the hook for a $1bn breakup fee. Alternatively, Twitter could sue Musk to force him to proceed with the deal, although experts think that is highly unlikely

he told them the whole time, the fall thru is their fault not his