The lesson is that you should never underestimate the multi-billionaire inventor of rockets being able to land and then be reused.
Elon Musk appears to be closing in on an offer to purchase Twitter. This is a remarkable move, confirmed now by numerous sources. RedState published a Sunday night report that Musk’s offer was being reexamined. Now, per The New York Times, things have progressed to the point where they are “nearing” a deal.
Two people familiar with the matter said that Twitter was close to a deal to be sold to Elon Musk. https://t.co/sjenMP1Z67
— The New York Times (@nytimes) April 25, 2022
Twitter is nearing a deal to sell itself to Elon Musk, two people with knowledge of the situation said, a move that would unite the world’s richest man with the influential social networking service.
Twitter’s board was negotiating with Mr. Musk into the early hours of Monday over his unsolicited bid to buy the company, after he began lining up $46.5 billion in financing for the offer last week, said the people, who spoke on the condition of anonymity because they were not authorized to discuss confidential information. According to them, the two parties were discussing details such as a time frame for closing any deal and any fees that might be paid in the event of an agreement being broken down.
Just a few hours later, Bloomberg reported that a deal was imminent.
JUST IN – Twitter said the platform is on track to reach deal with Elon Musk as soon as today, Bloomberg reports.
— Disclose.tv (@disclosetv) April 25, 2022
*TWITTER POISED TO ACCEPT MUSK’S $54.20 PER SHARE OFFER: REUTERS
— zerohedge (@zerohedge) April 25, 2022
It is a complete reversal of the position that most people thought they were just days ago. The board had publicly declared itself anti-Musk and executed a poison pill strategy concerning shares to fend him off.
What changed then? My speculation is that Twitter realized they were opening themselves up to massive legal liability by outright refusing Musk’s extremely generous offer. Most likely, shareholders would have been able to sue the company for breaching their fiduciary duties. Musk himself may have had cause as well, given he was the company’s largest shareholder until the board began its machinations. The board’s clearly political maneuvering put it at risk of shareholder revolt. Those jobs are lucrative, and it’d be better for the board members to cash out now than to be booted internally.
To be put a slight damper on things, though, just because they are nearing a deal doesn’t mean it’s for certain. Musk is determined and has proven himself capable of making it happen. That’s a big shift in my initial thoughts. However, I still want to see the ink dried before I have too much fun.
Still, it’s hilarious to see the reactions coming to Musk’s possible acquisition of the social media giant. Many leftwing accounts, large and small, are vowing to quit the platform due to the possibility of less censorship for mainstream political views. Because of all the hype surrounding Musk’s announcements, I think Musk will continue to have a low-level TOS for speech on the platform. This will mean that they will both apply it.
As it stands, leftwing accounts can spread disinformation, harass people, and dox people without any repercussions while saying a man can’t be a woman gets you banned. That’s going to change if Musk takes over. However, leftwing accounts that boast about their plans to leave have a lot of virtue signaling. They will not give up on the one real influence that they possess. It’s as empty of a threat as the right-wing accounts that threatened to do so after the Hunter Biden censorship. You can’t gain anything by giving up important ground you are fighting for.
You can still expect hilarious and hot takes going forward. We are on the verge of political chaos. Grab some popcorn.
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