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Twitter Tries to Turn Tables on Musk, Says will ‘Enforce Merger’

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No take backs, Twitter. The tech giant’s board is trying to turn the tables on Elon Musk and announced Tuesday that it plans to “close the transaction and enforce the merger agreement” reported The New York Times.

Axios wrote a ‘cliff’s notes’ style report about the complex situation to make it more understandable:

Driving the news: “The board and Mr. Musk agreed to a transaction at $54.20 per share,” Twitter’s board said in a statement to The New York Times. “We believe this agreement is in the best interest of all shareholders. We intend to close the transaction and enforce the merger agreement.”

  • This followed an earlier statement from Twitter that said it was “committed to completing the transaction on the agreed price and terms as promptly as practicable.”

Flashback: Twitter’s board urged shareholders in a regulatory filing Tuesday to vote in favor of the deal.

The big picture: Musk said last week that the $44 billion deal with Twitter was “temporarily on hold” until CEO Parag Agrawal publicly proves that less than 5% of users are bots or spam accounts.

  • “My offer was based on Twitter’s SEC filings being accurate,” Musk said in a tweet. “Yesterday, Twitter’s CEO publicly refused to show proof of <5%. This deal cannot move forward until he does.”

Yes, but: Musk currently has a contractual obligation to buy Twitter at the agreed price, Axios’ Felix Salmon writes.

Axios also made an excellent timeline of the Twitter saga thus far, culminating with the following on May 17:

  • “My offer was based on Twitter’s SEC filings being accurate,” Musk said in a tweet. “Yesterday, Twitter’s CEO publicly refused to show proof of <5%. This deal cannot move forward until he does.”
  • In a lengthy regulatory filing the Twitter board urged shareholders to vote in favor of the deal and provided a play-by-play look into how the board reached an agreement with Musk last month.

 

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8 Comments

8 Comments

  1. nattiedwards

    May 19, 2022 at 10:10 am

    Really? It is like buying a house before extending the $$$ to make sure that electricity, water, and sewer lines within other ‘amenities’ are running legally and adequately to move in?

  2. ken miller

    May 19, 2022 at 7:05 pm

    Was Musk doing this to show he public how FAKE the Social Media sites really are? Was he proving how STUPID Dummy KKK RAT voters really are and how easily manipulated they can be? If there are a substantial # of bots, are the Twitter execs guilty of LYING to the SEC? Looks like Musk is as smart as everyone thinks he is.

  3. Maxim

    May 19, 2022 at 7:27 pm

    Why a false or erroneous filling was given to SEC by Twitter!? It is like False advertising, and you return the Merchandise if so.
    All to legalize can last for years as from the beginning twitter obstructed the sale. Any Good Business lawyer her to explain why is different!?

  4. Tom Kukuk

    May 19, 2022 at 10:39 pm

    Anyone who’s been involved with an acquisition knows that the initial offer is based on investigation or “due diligence”. Exaggerated sales or profits are often reality and it’s up to the purchaser to verify information you’ve been given.

    If Twitter has more bots than they filed with the SEC the adjusted sale price will be the least of their troubles. If more than 20%, advertisers will sue for fraud and that business will drop like a rock. Investors beware, ask questions about WOKE fraud. Better yet just watch the @ProjectVeritas investigations.

  5. Mary

    May 20, 2022 at 10:17 am

    Elon Musk might find out more deleterious activities with Twitter. The former CEO is as bad as Zuckerberg and others. Those BIG YECH made a mistake when they manipulated the voting. There is PROOF that Zuckerberg has been working on tampering with the Voting system in USA for many years. BIG TECH has a megalomaniac attitude and lifestyle. They appear to think they are in charge. they are in charge of what> the outhouse.

  6. Marc

    May 21, 2022 at 1:36 am

    In a normal world, the SEC would have something to say about Twitter’s inaccurate or fraudulent filings (if they are). Under this communist regime, it’s anybody’s guess. If the SEC is as corrupt as the FBI, CIA, FDA, CDC, and the NIH — and I’m pretty sure they are — then, given Musk’s new-found, public disdain for the left, the regime may find a way to make an example out of Musk.

  7. Stephane

    May 21, 2022 at 4:31 am

    parag agrawal: LUCIFER incarnate?
    Is he the epitomy of the Indian Beggar?
    Rich but still the dreadful liar and thief?

  8. Clayce

    May 21, 2022 at 8:48 pm

    Hang in there Musk! Their SEC figure denotes a “pig in a poke!”

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Ghislaine Maxwell receives 20 year prison sentence, continues to blame Epstein

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As her victims sat in the courtroom and watched, Ghislaine Maxwell made self-serving statements about the “stain” her relationship with pedophile Jeffrey Epstein would forever cause her.

“And despite the many helpful and positive things I have done in my life and will continue to do … I know that my association with Epstein and this case will forever and permanently stain me” said Maxwell in her first time publicly addressing the allegations.

Standing at a Plexiglass-enclosed lectern to speak, she said “I empathize deeply with all of the victims in this case. I also acknowledge that I have been convicted of helping Jeffrey Epstein commit these crimes,” said Maxwell.

“Jeffrey Epstein should have been here before all of you, he should have stood before you all those years ago, he should have stood before you in 2005, again in 2009, and again in 2019,” Maxwell continued. “I am sorry for the pain that you experienced …”

60-year-old Maxwell was sentenced to 20 years in prison on Tuesday in the sex-trafficking case against her for procuring underage girls for Jeffrey Epstein and his friends and colleagues to sexually abuse.

Maxwell’s attorneys argued for a sentence “well below” 20 years recommended by federal probation officials. Prosecutors in the case tried for a 30 to 55 year prison sentence. “Maxwell, a former British socialite, was convicted on 29 December of five of the six charges she faced. The jury came to their decision after 40 hours of deliberations spanning six days” reports The Guardian.

The Guardian reports of the trial:

In addition to sex trafficking, Maxwell was convicted of conspiracy to entice individuals under the age of 17 to travel in interstate commerce with intent to engage in illegal sexual activity, conspiracy to transport individuals under the age of 17 to travel in interstate commerce with intent to engage in illegal sexual activity; transportation of an individual under the age of 17 with intent to engage in illegal sexual activity; and conspiracy to commit sex trafficking of individuals under the age of 18…

…There were four accusers in the trial: Jane, Kate and Carolyn, who did not use their full names during proceedings, as well as Annie Farmer.

Jane said that she was 14 in 1994 when Epstein began to sexually abuse her – and that sometimes Maxwell was present when he did so. Sometimes, Maxwell participated in this abuse, Jane testified. “There were hands everywhere,” Jane said of an incident with Epstein and Maxwell. This abuse also took place when she was 15 and 16.

Kate said that she first met Maxwell in Paris around 1994, at 17. Maxwell asked Kate to tea at her London townhouse shortly thereafter, and then introduced the teen to Epstein at a subsequent meeting.

A few weeks later, Maxwell telephoned Kate, and told her: “Jeffrey was meant to get a massage but the massage therapist had canceled. Could I do her a favor and come over … because I had strong hands.”

Kate told jurors that Maxwell led her upstairs, where Epstein was in a robe. Maxwell shut the door, leaving Kate alone with Epstein. He initiated sexual contact with Kate. She saw him several times annually over the next few years.

Carolyn testified that she fell into Maxwell and Epstein’s abusive world around the early 2000s, when she was 14, at his Palm Beach mansion.

Ghislaine Maxwell sentencing provides ‘closure’, victims say – video

Carolyn said she traveled to Epstein’s house “over 100 times” between ages 14 and 18, and recalled a physical encounter with Maxwell while getting a massage table ready.

“I was getting fully nude, and she came in and felt my boobs and my hips and my buttocks and said … that I had a great body for Mr Epstein and his friends. She just said that I had a good body type,” Carolyn testified.

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