Sunday, May 26, 2024

Elon Musk Says Honestly, Nevermind to Twitter and Pulls His Offer to Buy Social Media Platform

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The party’s over. Elon Musk has decided to dump his Twitter offer for $44 billion. He sent the social media company a letter today saying that even though he builds rockets, sends people into space, is the richest guy in the world, he cant figure out how many Twitter users are real.

Twitter responded by saying they don’t care, they’ll sue him to make him cough up the money.

Here’s a link to Musk’s letter.

https://www.sec.gov/Archives/edgar/data/1418091/000110465922078413/tm2220599d1_ex99-p.htm

Bret Taylor, CEO of Salesforce and chairman of Twitter responded: “The Twitter Board is committed to closing the transaction on the price and terms agreed upon with Mr. Musk and plans to pursue legal action to enforce the merger agreement. We are confident we will prevail in the Delaware Court of Chancery.”

Business sites and pundits will be venting their spleens on this subject. But Joe South said it best:

Roger Friedman
Roger Friedmanhttps://www.showbiz411.com
Roger Friedman began his Showbiz411 column in April 2009 after 10 years with Fox News, where he created the Fox411 column. His movie reviews are carried by Rotten Tomatoes, and he is a member of both the movie and TV branches of the Critics Choice Awards. His articles have appeared in dozens of publications over the years including New York Magazine, where he wrote the Intelligencer column in the mid 90s and covered the OJ Simpson trial, and Fox News (when it wasn't so crazy) where he covered Michael Jackson. He is also the writer and co-producer of "Only the Strong Survive," a selection of the Cannes, Sundance, and Telluride Film festivals, directed by DA Pennebaker and Chris Hegedus.
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