Twitter (TWTR)

[winston]

vested

Gloating Twitter short-seller trolls Elon Musk as takeover wobble sees all share gains wiped out

BY CHRISTIAAN HETZNER

Source: Fortune

https://fortune.com/2022/05/13/twitter- ... ldatasheet

[winston]

vested

Elon Musk says Twitter legal team told him he violated NDA

by Rachna Dhanrajani

He said his team would test "a random sample of 100 followers" on Twitter to identify the bots. His response to a question prompted Twitter's accusation.

When a user asked Musk to "elaborate on process of filtering bot accounts", he replied, "I picked 100 as the sample size number, because that is what Twitter uses to calculate <5% fake/spam/duplicate."

Source: Reuters

https://www.theedgemarkets.com/article/ ... olated-nda

[winston]

vested

Elon Musk is likely trying to get a lower price for Twitter

By Therese Poletti

The Street will view this deal as:-
1) Likely falling apart
2) Musk negotiating for a lower deal price or
3) Musk simply walking away from the deal with a $1 billion breakup fee

Source: Market Watch

https://www.marketwatch.com/story/elon- ... eid=yhoof2

[winston]

vested

Twitter Stock Extends Slide As Elon Musk Reveals Spat With Legal Team, Adding to Takeover Doubts

"Twitter legal just called to complain that I violated their (non-disclosure agreement)," Musk Tweeted Saturday.

by MARTIN BACCARDAX

The Tesla CEO added that there is "some chance" the number of fake and bot accounts "might be over 90% of daily active users", although Twitter told the SEC last month that the total was under 5% of its 229 million month active users.

He also suggested users were being "manipulated" by Twitter's algorithm.

Source: The Street

https://www.thestreet.com/markets/twitt ... r%2BDoubts

[winston]

vested

Musk tells conference a lower price for Twitter might be appropriate

by Katie Paul and Krystal Hu

Agrawal tweeted earlier on Monday that internal estimates of spam accounts on the social media platform for the last four quarters were "well under 5%," responding to days of criticism by Musk.

"So how do advertisers know what they're getting for their money? This is fundamental to the financial health of Twitter," Musk wrote.

Musk told the conference in Miami that he suspects bots - or automated accounts - make up about 20% to 25% of users.

Musk said on Sunday "there is some chance it might be over 90% of daily active users."

Independent researchers have estimated that anywhere from 9% to 15% of the millions of Twitter profiles are bots.

Source: Reuters

https://www.theedgemarkets.com/article/ ... ppropriate

[winston]

Twitter Slips 2.5% in Pre-mkt; Musk Demands Proof of Less than 5% Spam Account Ratio to Proceed Takeover Deal

Tesla (TSLA.US) 's CEO Elon Musk expressed that he would only proceed with the proposed USD44 billion acquisition of Twitter (TWTR.US) after the CEO of the social media company has proven that the fake account ratio of the platform is less than 5%.

The share price of Twitter slipped 2.5% in the pre-market session, to post at USD36.46. Tesla's share price, on the other hand, elevated 3%, to post at USD746.72.

Source: AAStocks Financial News

[winston]

vested

Musk: Lower Twitter Acquisition Price Not Impossible

Tesla (TSLA.US)'s CEO Elon Musk expressed that lowering the price for the proposed acquisition of Twitter (TWTR.US) is not impossible, leading the market to speculate that he may be exploring the possibility of re-engaging in an acquisition negotiation, reported foreign media.

The share price of Twitter cratered 8.2% at close overnight as Musk announced on last Friday that the proposed USD44 billion takeover of the social media company was temporarily on hold, pending data on the latter's fake account ratio.

Source: AAStocks Financial News

[winston]

vested

Twitter Directors Plan to Enforce Musk's Acquisition Deal

The board of directors of Twitter (TWTR.US) stated that it plans to enforce the US$44-billion acquisition agreement proposed by Tesla (TSLA.US) Founder Elon Musk and wrap up the transaction, saying that the deal meets the best interest of all shareholders.

Directors of Twitter had voted earlier to unanimously proposed that shareholders approved Musk's offer of US$54.2 per share.

The proposed acquisition specified that Musk would have to pay a US$1-billion breakup fee if he ceased the deal or failed to pay the acquisition price as agreed.

The Tesla boss had previously said that he would not go ahead with his acquisition plan unless he got more information from Twitter that the alleged spam bots made up less than 5% of its users.

Source: AAStocks Financial News

[winston]

not vested

If Elon Musk scraps Twitter deal, here's what may happen to the stock

by Brian Sozzi

"In the absence of a bid, we would not be surprised to see the stock find a floor at $22.50," said Jefferies analyst Brent Thill said Tuesday in a new note to clients. Such a price would be about 40% lower than Twitter's current trading level.

A fair value for Twitter in light of the rout in tech stocks in recent months would be $42 a share.

Wedbush: It's likely a 60%+ chance from our view Musk ultimately walks from the deal and pays the breakup fee.

https://finance.yahoo.com/news/if-elon- ... 56059.html

[winston]

vested

Elon Musk doesn’t want to buy Twitter anymore, but Twitter should make him pay for it

By Therese Poletti

At the worst, Twitter should get $1 billion for letting Musk walk away because reducing the price or dropping everything without a penalty, would break their duty to shareholders

“There is no procedural step in the closing of a company that is called ‘deal on hold,’ there is ‘no deal on hold’ built into the agreement”.

“Getting cold feet is no sufficient basis to withdraw….so presumably at this point if he really wanted out he would have said so, and they would demand the breakup fee”.

Musk waived his right to perform due diligence on Twitter before signing the deal, as outlined in Twitter’s SEC filing detailing the run-up to the acquisition.

“Mr. Musk also disclosed that his acquisition proposal was no longer subject to the completion of financing and business due diligence”.

Musk is also not learning about bots on Twitter for the first time. Musk talked about solving the bot issue as one reason he was buying Twitter in the news release announcing the deal.

Since his recent actions on Twitter could potentially be considered as disparaging the company, which he agreed not to do when he signed the merger agreement, he could eventually be subject to further legal action by Twitter.

The board could sue him for “specific performance,” which would force him to go through with the acquisition as specified in the contract.

Source: Market Watch

https://www.marketwatch.com/story/elon- ... eid=yhoof2