Beautiful Virgin Islands

Thursday, Mar 30, 2023

Twitter Slides after Musk's $44 Bln Deal Falls Apart

Twitter Slides after Musk's $44 Bln Deal Falls Apart

Shares of Twitter Inc fell about 6% in premarket trading on Monday as a legal tussle between Elon Musk and the social media company is expected to take center stage after the world’s richest person walked away from the $44 billion deal.
Musk, the chief executive officer of Tesla Inc, said on Friday he was terminating his deal to buy Twitter because the company had breached multiple provisions of the merger agreement.

Twitter is planning to sue Musk as early as this week and force him to complete the acquisition, people familiar with the matter told Reuters.

On Monday, Musk took a jab at Twitter’s stance, tweeting that the legal battle would lead to the company disclosing information on bots and spam accounts in court. The series of tweets was Musk’s first public response since the Friday announcement.

Twitter shares ended at $36.81 on Friday and were at a 32% discount to Musk’s $54.20 bid, as they have been hit by a double whammy of a slump in the broader equity market and investor skepticism over the deal.

“We believe that Elon Musk’s intentions to terminate the merger are more based on the recent market sell-off than… Twitter’s ‘failure’ to comply with his requests,” Jefferies analyst Brent Thill said in a note.

“In the absence of a deal, we would not be surprised to see the stock find a floor at $23.5.”

The contract calls for Musk to pay Twitter a $1 billion break-up fee if he cannot complete the deal for reasons such as the acquisition financing falling through or regulators blocking the deal. The break-up fee would not be applicable, however, if Musk terminates the deal on his own.
Newsletter

Related Articles

Beautiful Virgin Islands
Close
0:00
0:00
Father obliterates council members following viral TikTok of biological male masturbating in women’s bathroom..
I have a dream, MLK inspiring speech
China and Brazil have signed a new deal that will allow them to trade in their own currencies, bypassing the US dollar as an intermediary
Aretha Franklin, Marvis Staples - Oh Happy Day
Elon Musk and Others Call for Pause on A.I., Citing ‘Profound Risks to Society’
BVI Freedom Song
Nashville style execution
Billy Preston - You Can't Beat God Giving (Live)
“We've had evidence prior to the pandemic that masks were largely ineffective at preventing community transmission of influenza “
VIRGIN ISLANDS REGGAE CARIBBEAN RIDDIMZ
Former Starbucks CEO Howard Schultz:
Oh Happy Day Edwin Hawkins - Anthony Brown w FBCG Combined Choir
Former Starbucks CEO Howard Schultz rejects being labeled a "billionaire"
'Stand by Me' performed by Karen Gibson and The Kingdom Choir
Jamie Dimon is being deposed over JPMorgan Chase role in Epstein lawsuits
National Anthem of the British Virgin Islands - Oh, Beautiful Virgin
This is how an electric car saves all the energy that he would have spent if he had lived 50 years longer.
Hello Dolly
Brand new security footage has just been released to the public showing the Active shooter Audrey Elizabeth Hale drove to Covenant Church School in her Honda Fit this morning, parked, and shot her way into the building
for KING & COUNTRY - Amen (Reborn) [feat. Lecrae & The WRLDFMS Tony Wi
Social Media censoring users for saying the true
Bob Marley - Get Up Stand Up
Smart Iranian fashion designer teaching dummy TV anchors lesson about reality
Yes He Can
AMERICA, 2023
What A Friend We Have In Jesus
U.S. charges FTX's Bankman-Fried with paying $40 million bribe
Unforgettable
Fallen 'Crypto King' Who Owes Millions to Investors Was Kidnapped and Tortured
Touch The Hem Of His Garment
Regulators blame social media for SVB's rapid collapse: 'Complete game changer'
The Lord's Prayer
AOC explains why she opposes banning TikTok
THE GOD MOVEMENT...BEAUTIFUL BVI
UK: Humza Yousaf replaces Nicola Sturgeon as SNP leader and first minister in Scotland
Siyahamba
In a dramatic U-turn against His Government: Judicial Reform Legislation Must Be Halted, Says Israeli Defense Minister Yoav Gallant
Ray Charles And The Voices Of Jubilaton, Oh, Happy Day
Gordon Moore, a co-founder of Intel Corporation, died at 94
Ramblin' Rose
Powell: Silicon Valley Bank was an 'outlier'
Protoje - Who Knows ft. Chronixx
Donald Trump arrested – Twitter goes wild with doctored pictures
Pressure - Virgin Islands Nice
NYPD is setting up barricades outside Manhattan Criminal Court ahead of Trump arrest.
Phil Wickham - House Of The Lord
Credit Suisse's Scandalous History Resulted in an Obvious Collapse - It's time for regulators who fail to do their job to be held accountable and serve as an example by being behind bars.
My God Is Real (Yes, God Is Real)
Home Secretary Suella Braverman tours potential migrant housing in Rwanda as asylum deal remains mired in legal challenges
The Lion King Circle of Life by LEBO M. — LIVE at the HAVASI Symphonic
Paris Rioting vs Macron anti democratic law
Louis Armstrong - When The Saints Go Marching In
'Sexual Fantasy' Assignment At US School Outrages Parents
Kanye West Sunday Service - hallelujah, salvation, and glory
Credit Suisse to borrow $54 billion from Swiss central bank
Jonathan Nelson - I Believe (Island Medley
Russian Hackers Preparing New Cyber Assault Against Ukraine
From The Virgin Islands Sqad Up
Jeremy Hunt insists his Budget will get young parents and over-50s back into work
Common, John Legend - Glory
If this was in Tehran, Moscow or Hong Kong
Anthony Evans vs. Jesse Campbell - If I Ain't Got You
Nashville police officer, and a female driver shooting one another
I have a dream, MLK inspiring speech
TRUMP: "Standing before you today, I am the only candidate who can make this promise: I will prevent World War III."
Aretha Franklin, Marvis Staples - Oh Happy Day
Mexican President Claims Mexico is Safer than the U.S.
BVI Freedom Song
A brief banking situation report
Billy Preston - You Can't Beat God Giving (Live)
Lady bites police officer and gets instantly reaction
VIRGIN ISLANDS REGGAE CARIBBEAN RIDDIMZ
We are witnessing widespread bank fails and the president just gave a 5 min speech then walked off camera.
Oh Happy Day Edwin Hawkins - Anthony Brown w FBCG Combined Choir
Donald Trump's asked by Tucker Carlson question on if the U.S. should support regime change in Russia?.
'Stand by Me' performed by Karen Gibson and The Kingdom Choir
Good news: The U.S. government is now guaranteeing all deposits, held by, Silicon Valley Bank, and the funds are available as of today
National Anthem of the British Virgin Islands - Oh, Beautiful Virgin
Silicon Valley Bank exec was Lehman Brothers CFO
Hello Dolly
In a potential last-ditch effort, HSBC is considering a rescue deal to save Silicon Valley Bank UK from insolvency
for KING & COUNTRY - Amen (Reborn) [feat. Lecrae & The WRLDFMS Tony Wi
BBC Director General, Tim Davie, has apologized, but not resigned, yet, following the disruption of sports programmes over the weekend
Bob Marley - Get Up Stand Up
A Mississippian man, who was once considered a “ticking time bomb,” has lost a whopping 165 kilograms! What motivated this incredible transformation?
Yes He Can
Elon Musk Is Planning To Build A Town In Texas For His Employees
What A Friend We Have In Jesus
The Silicon Valley Bank’s collapse effect is spreading around the world, affecting startup companies across the globe
Unforgettable
City officials in Berlin announced on Thursday that all swimmers at public pools will soon be allowed to swim topless
Touch The Hem Of His Garment
Fitness scam
The Lord's Prayer
Market Chaos as USDC Loses Peg to USD after $3.3 Billion Reserves Held by Silicon Valley Bank Closed.
THE GOD MOVEMENT...BEAUTIFUL BVI
A primitive judge in Australia sparked outrage when he told a breastfeeding woman to leave his courtroom for being “a distraction"
Siyahamba
Barcelona is feeling the heat as they face corruption charges over payments to former vice-president of Spain's referees' committee, Jose Maria Enriquez Negreira
Ray Charles And The Voices Of Jubilaton, Oh, Happy Day
×