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Elon Musk acquires Twitter, Discuss

MJ DeMarco

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Just announced! Agreement is reached and this deal is going down!

SAN FRANCISCO, April 25, 2022 /PRNewswire/ -- Twitter, Inc. (NYSE: TWTR) today announced that it has entered into a definitive agreement to be acquired by an entity wholly owned by Elon Musk, for $54.20 per share in cash in a transaction valued at approximately $44 billion. Upon completion of the transaction, Twitter will become a privately held company.

Under the terms of the agreement, Twitter stockholders will receive $54.20 in cash for each share of Twitter common stock that they own upon closing of the proposed transaction. The purchase price represents a 38% premium to Twitter's closing stock price on April 1, 2022, which was the last trading day before Mr. Musk disclosed his approximately 9% stake in Twitter.

Bret Taylor, Twitter's Independent Board Chair, said, "The Twitter Board conducted a thoughtful and comprehensive process to assess Elon's proposal with a deliberate focus on value, certainty, and financing. The proposed transaction will deliver a substantial cash premium, and we believe it is the best path forward for Twitter's stockholders."

Parag Agrawal, Twitter's CEO, said, "Twitter has a purpose and relevance that impacts the entire world. Deeply proud of our teams and inspired by the work that has never been more important."

"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 Mr. Musk. "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. Twitter has tremendous potential – I look forward to working with the company and the community of users to unlock it."

Transaction Terms and Financing
The transaction, which has been unanimously approved by the Twitter Board of Directors, is expected to close in 2022, subject to the approval of Twitter stockholders, the receipt of applicable regulatory approvals and the satisfaction of other customary closing conditions.

Mr. Musk has secured $25.5 billion of fully committed debt and margin loan financing and is providing an approximately $21.0 billion equity commitment. There are no financing conditions to the closing of the transaction.

For further information regarding all terms and conditions contained in the definitive transaction agreement, please see Twitter's Current Report on Form 8-K, which will be filed in connection with the transaction.

First Quarter 2022 Earnings Results
Twitter plans to release its first quarter fiscal year 2022 results before market open on April 28, 2022. In light of the pending transaction announced today, Twitter will not hold a corresponding conference call.

Advisors
Goldman Sachs & Co. LLC, J.P. Morgan, and Allen & Co. are serving as financial advisors to Twitter, and Wilson Sonsini Goodrich & Rosati, Professional Corporation and Simpson Thacher & Bartlett LLP are serving as legal counsel. Morgan Stanley is acting as lead financial advisor to Mr. Musk. BofA Securities and Barclays are also acting as financial advisors. Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal counsel.

About Twitter, Inc. (NYSE: TWTR)
Twitter is what's happening and what people are talking about right now. To learn more, visit about.twitter.com and follow @Twitter. Let's talk.

Additional Information and Where to Find It
Twitter, its directors and certain executive officers are participants in the solicitation of proxies from stockholders in connection with the pending acquisition of Twitter (the "Transaction"). Twitter plans to file a proxy statement (the "Transaction Proxy Statement") with the Securities and Exchange Commission (the "SEC") in connection with the solicitation of proxies to approve the Transaction. Additional information regarding such participants, including their direct or indirect interests, by security holdings or otherwise, will be included in the Transaction Proxy Statement and other relevant documents to be filed with the SEC in connection with the Transaction. Information relating to the foregoing can also be found in Twitter's definitive proxy statement for its 2022 Annual Meeting of Stockholders (the "2022 Proxy Statement"), which was filed with the SEC on April 12, 2022. To the extent that holdings of Twitter's securities have changed since the amounts printed in the 2022 Proxy Statement, such changes have been or will be reflected on Statements of Change in Ownership on Form 4 filed with the SEC. Promptly after filing the definitive Transaction Proxy Statement with the SEC, Twitter will mail the definitive Transaction Proxy Statement and a WHITE proxy card to each stockholder entitled to vote at the special meeting to consider the Transaction. STOCKHOLDERS ARE URGED TO READ THE TRANSACTION PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS THAT TWITTER WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Stockholders may obtain, free of charge, the preliminary and definitive versions of the Transaction Proxy Statement, any amendments or supplements thereto, and any other relevant documents filed by Twitter with the SEC in connection with the Transaction at the SEC's website (http://www.sec.gov). Copies of Twitter's definitive Transaction Proxy Statement, any amendments or supplements thereto, and any other relevant documents filed by Twitter with the SEC in connection with the Transaction will also be available, free of charge, at Twitter's investor relations website (https://investor.twitterinc.com) or by writing to Twitter, Inc., Attention: Investor Relations, 1355 Market Street, Suite 900, San Francisco, California 94103.

Forward-Looking Statements
This communication contains forward-looking statements that involve risks and uncertainties, including statements regarding: the Transaction, including the expected timing of the closing of the Transaction; considerations taken into account by Twitter's Board of Directors in approving the Transaction; and expectations for Twitter following the closing of the Transaction. If any of these risks or uncertainties materialize, or if any of Twitter's assumptions prove incorrect, Twitter's actual results could differ materially from the results expressed or implied by these forward-looking statements. Additional risks and uncertainties include those associated with: the possibility that the conditions to the closing of the Transaction are not satisfied, including the risk that required approvals from Twitter's stockholders for the Transaction or required regulatory approvals to consummate the Transaction are not obtained; potential litigation relating to the Transaction; uncertainties as to the timing of the consummation of the Transaction; the ability of each party to consummate the Transaction; possible disruption related to the Transaction to Twitter's current plans and operations, including through the loss of customers and employees; and other risks and uncertainties detailed in the periodic reports that Twitter files with the SEC, including Twitter's Annual Report on Form 10-K filed with the SEC on February 16, 2022, which may be obtained on the investor relations section of Twitter's website (https://investor.twitterinc.com). All forward-looking statements in this communication are based on information available to Twitter as of the date of this communication, and Twitter does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.

Contacts
Investors:
ir@twitter.com

Press:
press@twitter.com

Cision
View original content:Elon Musk to Acquire Twitter

SOURCE Twitter, Inc.
 
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Antifragile

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E4B88E7D-0F1C-4A9C-A8D1-FA14D0567001.jpegElon Musk Agrees to Buy Twitter in $44 Billion Deal

Agreement marks the close of a dramatic courtship and a sharp change of heart at the social-media network.
 

Noo

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Wow, you were so fast publishing it here. Great job, thanks for the info!
 
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Mathuin

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heavy_industry

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I couldn't think of a better new owner for Twitter.
 
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MJ DeMarco

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"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," Musk said in the release announcing the deal. "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. Twitter has tremendous potential -- I look forward to working with the company and the community of users to unlock it."

The big question here is if this: will Twitter get de-wokified? Will culture get a true view of "trending" stories or will the platform still give priority exposure and preference to left-wing fringe nutjobs?

Will it become a better advertising venue?
 
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G

Guest-5ty5s4

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"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," Musk said in the release announcing the deal. "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. Twitter has tremendous potential -- I look forward to working with the company and the community of users to unlock it."

The big question here is if this: will Twitter get de-wokified? Will culture get a true view of "trending" stories or will the platform still give priority exposure and preference to left-wing fringe nutjobs?

Will it become a better advertising venue?
All of those things would benefit the company and increase its profitability.

If Elon has anything to do with it, I'm inclined to say (optimistically), yes!
 

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I hope Elon does what I think needs to be done. Not weaponizing digitalization for programming for profit, power and control.
 

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Musk has an amazing track record so far so I think he's going to do good things here. The fight just began though. I can't imagine how hard the left will fight tooth and nail to sink Twitter now. This is the worst thing that could have happened from their perspective though lol. Twitter was a pretty big stronghold.
 
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MJ DeMarco

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I hope Elon does what I think needs to be done. Not weaponizing digitalization for programming for profit, power and control.

Isn't Elon a big crypto enthusiast? Since that is decentralized, you have to think Twitter will follow similar protocols.
 

Aditya Gunjal

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Musk has an amazing track record so far so I think he's going to do good things here. The fight just began though. I can't imagine how hard the left will fight tooth and nail to sink Twitter now. This is the worst thing that could have happened from their perspective though lol. Twitter was a pretty big stronghold.

"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," Musk said in the release announcing the deal. "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. Twitter has tremendous potential -- I look forward to working with the company and the community of users to unlock it."

The big question here is if this: will Twitter get de-wokified? Will culture get a true view of "trending" stories or will the platform still give priority exposure and preference to left-wing fringe nutjobs?

Will it become a better advertising venue?
This is not a hate post. (And i dont use twitter)
Elon Musk has convinced people that he is their saviour through Public relation campaign.
Much of his image is based on dishonesty.
I think twitter has hell of a data about how people think and other personal data which can be used in various ways(neurolink?). Big data is all someone need to control people and their minds. Why is he interested in social media so much? I think the answer again is data. 44B$ is lot of money someone is going to pay for it (maybe the people themselves) and we all know if we are getting something for free we are the product.
Now about his vison and all, i have read some comments about how workers in his company are overloaded and not paid well. "There are reasons why some astronauts do not agree with his vison and all" and people think its because they are jealous of elon's succes(why the f will someone who has stepped on moon be jealous of someone.
A good criticism on him
View: https://youtu.be/Dkix4UzEbjU
 

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Aditya Gunjal

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Isn't Elon a big crypto enthusiast? Since that is decentralized, you have to think Twitter will follow similar protocols.
Sir, our country's government is taking toll on crypto too. 30% tax on any gain through crypto and 1%TDS. These shi*heads want to create their own digital currency and now they are pushing it into people throat just like they are pushing EV by increasing petrol price. And i really think this hash security and blockchain cannot be hacked directly but what about putting bugs in each computer and then tracking the hash (at this point i think anything is possible),afterall we use devices produced by big tech.
 

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Governments around the world have already been passing censorship laws, unless he moves this too some sort of decentralised blockchain I think he’s doing to have a lot of problems with governments and also apple and google.

They could remove Twitter from the App Store tomorrow and start pushing their own new social app. Woke Social has a nice ring to it.

Also from what I understand his other businesses rely heavily on government money so that will be interesting.

The thing I’m most excited about is for him to fire 1000s of purple haired devs that have been working from home for 2 years on a social platform that has not changed or innovated for the last 5 years.

I think we missed the biggest scam of all time, dying your hair purple, putting pronouns in your bio and making 200k+ a year to sit at home crying.

Also another thing to consider is that algorithms are there to make platforms more usable/addictive that’s why companies have them. Removing it could make it used less.

And truth social which I haven’t been on is apparently exactly what you’d expect, a bunch of angry right wing people posting “conspiracies”, let’s be honest most people don’t really want to see this sort of thing. Woke stuff is just frustratingly stupid and dumb enough to laugh at but it doesn’t drive you off a platform.

It will be interesting to see how this goes.

I haven’t had a look at twitters ad platform but I don’t know anyone who advertises on there, fixing that and firing useless devs could be enough to turn the platforms profitability around.
 

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Very interesting, time will tell whether Elon is truly friend or foe to the average man. jk, trick question, no billionaire is truly a friend to the average man, nor should they be.

I don't buy everything he sells but he does have a good track record. There is a good biography of him which I have in my library of him by Ashley Vance, his experience in childhood(as is the case for the most us) is what drives him today.

As for Twitter itself, it has become a monolith that is most likely swinging some elections in the USA as well as helping to drive Foreign/Domestic policy. My hope would be he destroys it, a lot of smug people on the platform and honestly for the average man it's a huge waste of time, endless arguments that convince no one really, kinda like the Ukraine thread X 1000 :) .

I suspect one of the big reasons Twitter sold out is because the government is about to crack down on these platforms(and it's going to be bipartisan) with an update to section 230. I hate to say it but you are about to see a big crackdown on independent media/platforms in the USA by the government ala China/Russia dressed in the Freedom/Democracy dress.
 
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The thing I’m most excited about is for him to fire 1000s of purple haired devs that have been working from home for 2 years on a social platform that has not changed or innovated for the last 5 years.

I think we missed the biggest scam of all time, dying your hair purple, putting pronouns in your bio and making 200k+ a year to sit at home crying.

Had a good laugh at this, there were a few tweets from these types of developers saying they quit when he bought shares and was offered a board seat a few weeks ago. Imagine thinking anyone, much less Elon would give a shit :rofl: "Jump before being pushed" comes to mind.

I've been quite interested in observing this process and look forward to seeing what changes are made and the outcomes, I don't mind twitter for some of the people I follow but I'm not active on there at all from a posting point of view.
 

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Had a good laugh at this, there were a few tweets from these types of developers saying they quit when he bought shares and was offered a board seat a few weeks ago. Imagine thinking anyone, much less Elon would give a shit :rofl: "Jump before being pushed" comes to mind.

I've been quite interested in observing this process and look forward to seeing what changes are made and the outcomes, I don't mind twitter for some of the people I follow but I'm not active on there at all from a posting point of view.
I've been meaning to join it for a while, the hosts of MFM talk about it all the time, how easy it is to build a large following on there and how all the right people are on there. They're more silicon valley style business owners but they are still right. Definitely a lot of opportunity there to get known by and connect with the right people.
 

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Also from what I understand his other businesses rely heavily on government money so that will be interesting.

Aside from EV/solar subsidies (which I understand ALL EV/solar companies get) and his efficiencies for re-using rockets in SpaceX (which often wins him contracts over other providers), what government money does he get?

I'm not saying I support ANY of those subsidies (I don't), but I'm also not about to return a "stimulus" check because I'm morally opposed to them. So I'm hard-pressed to criticize him for these, especially when in a single year he has paid more taxes than all US politicians combined, and he's following the rules those politicians set.
 
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Maybe this is a simple question, but I have never seen this type of deal before...

If you bought 1,000 shares a month ago, you now lose those shares but get $54,200?

Like what happens to everyone holding shares - they just all get cashed out?
(Seems like a lot of work to do that???)
 

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I guess he won't be buying Mercedes-Benz then (or maybe he still will).

I think its a good move. Must is an avid Twitter user, using for everything from business support and innovation to memes. Not to mention his way of looking at things and thinking outside the box!

I agree that twitter started to change a lot recently, and the algorithms are really poo - I don't care what my local news outlet is spewing today, I don't follow them at all!!!!

BUT

This is a big investment, that he had to finance in part - he will need a way to get his ROI
Maybe additional features will be on paid plans, maybe ads structure will change.

Time will tell-
 

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I haven't really done my research on this but my observation is that Elon bought Twitter because it'll help him get to Mars quicker.

Why? Because that's his ultimate life goal. The catharsis of his existence. And he needs a shit ton of money to do it in his lifetime.

In fact, I remember reading somewhere (or heard it in a podcast with him) that EVERYTHING he ever does i.e every move he does in business is such that it has to have an impact on him getting to Mars, or else he wouldn't even bother.

Last year, Elon suddenly became the #1 richest man on the planet right around that period when he was hyping the F*ck out of dogecoin. It then absolutely BLEW UP in popularity across the globe and he, I presume, cashed out on his dogecoin. Boom, move over Jeff Bezos.

What I'm seeing is that Elon has been using his influence in combination with the Twitter platform as a way to manipulate the crypto market and amass even greater amounts of wealth to fund his long-term goals.

But why would he need to buy Twitter, then?

Because it guarantees him the option to do it again and again without worrying about his account getting deleted by Twitter - which could've happened due to a TOS infringement OR an interference by influential people whose plans have been ruined following Elon's actions OR even governments that are unhappy with the way Elon is affecting hundreds of millions of people with his stances on things. In short, because of the locus of control.

These are my observations and I would be happy to be proven wrong. But for now, I believe it's a long con type of situation.
 
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MJ DeMarco

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Very interesting, time will tell whether Elon is truly friend or foe to the average man

Yea, if I'm being honest, I'm not sure if Elon is a net-positive for the average Joe, or a net-negative. He could be a "Manchurian Billionaire", a culturally palatable icon who can help usher in the NWO with lessor opposition, unlike Gates, Schwab, and the NWO cabal.

If you bought 1,000 shares a month ago, you now lose those shares but get $54,200?

Great question, and I'm not sure as I never had this occur to me as an investor. I'm guessing it would be subject to whatever rules are in place for common shares. My default inclination is that your shares are liquidated at the offer price on a certain date.
 
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Great question, and I'm not sure as I never had this occur to me as an investor. I'm guessing it would be subject to whatever rules are in place for common shares. My default inclination is that your shares are liquidated at the offer price on a certain date.

Yeah, that idea is super interesting - I didn't even know that could be done.

Like I thought the whole idea of a share was just that - it's yours.

But from everything I read it looks like he is buying out every share, so I guess everyone else is liquidated.
 

schazz

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Yea, if I'm being honest, I'm not sure if Elon is a net-positive for the average Joe, or a net-negative. He could be a "Manchurian Billionaire", a culturally palatable icon who can help usher in the NWO with lessor opposition, unlike Gates, Schwab, and the NWO cabal.
If that's the case then this is an amazing con, because much of the NWO supporting crowd (unwitting or otherwise) - corporate media, federal government, woke corporate America is screaming that Elon taking over Twitter is the end of the world. As far as I know they've never bluffed with this kind of reaction, it's always been genuine. This would be a new strategy. I guess the other option would be that Elon is pulling one over on everyone, including them, but haven't seen evidence for that yet.
 
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Yeah, that idea is super interesting - I didn't even know that could be done.

Like I thought the whole idea of a share was just that - it's yours.

But from everything I read it looks like he is buying out every share, so I guess everyone else is liquidated.

As far as I remember Elon said something about letting as many people as possible keep the shares in the private company so maybe you'll be able to choose what you want to do. But I assume this would only be available for people who bought the shares before a specific date and people who own quite a bit, not just 1 share.
 

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Yeah, that idea is super interesting - I didn't even know that could be done.

Like I thought the whole idea of a share was just that - it's yours.

But from everything I read it looks like he is buying out every share, so I guess everyone else is liquidated.

Yeah, not much detail online either regarding a situation like this. I would presume that a majority of the shareholders have to vote in favor of any deal so at least 50% of them will be making a profit. Others could also write the loses off against tax if they determined that this was probably the best deal they'd get in a failing company and cut their losses.

Interesting article from Canada in 2019.
 

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