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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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Elections

Judge orders Biden’s DHS to release files on agents accused of censoring election ‘misinformation’

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Missouri Attorney General Andrew Bailey and Louisiana Attorney General Jeff Landry made headway in countering federal agents involved in suppressing what liberal tech labeled “misinformation” on social media.

The Attorneys General moved to release testimony from five Cybersecurity and Infrastructure Security Agency (CISA) employees after learning of their participation in the Biden administration’s counter-“disinformation” efforts. On Wednesday, a Louisiana judge ordered the Department of Homeland Security (DHS) to release the files.

Court documents dated Jan. 19 show  the agents participated. The judge’s motion Wednesday could shed light on a “switchboarding” tactic employed during the 2020 election, according to the order.

The lawsuit alleges that the defendants, which include the named individuals as well as President Joe Biden and top officials from a variety of federal agencies, “colluded and/or coerced social media companies to suppress disfavored speakers, viewpoints, and content on social media platforms by labeling the content “dis-information,” “mis-information,” and “mal-formation.”

The Daily Caller reports that the five CISA employees allegedly served as a “switchboard” to route requests from federal agencies to censor disinformation to various social media companies, according to the documents.

Switchboard work employed “an audit official to identify something on social media they deemed to be disinformation aimed at their jurisdiction,” top CISA election security agent Brian Skully testified in a deposition released Thursday.

“They couldforward that to CISA and CISA would share that with the appropriate social mediacompanies.”

 

 

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