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Alert: Elon Musk Could Still Lose Twitter Deal

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OPINION: This article may contain commentary which reflects the author's opinion.


Elon Musk’s deal to purchase Twitter is not done yet.

Although Twitter agreed on Monday to accept Musk’s offer to acquire the company, there’s still a possibility that the deal doesn’t happen.

A Securities and Exchange Commission filing related to the purchase shows Musk is on the hook to pay a $1 billion termination fee should the deal fall through.

In one instance, the filing states that if the deal is not finalized on or before October 24, 2022, the SEC filing stipulates that Twitter “may terminate the Merger Agreement.”

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Additionally, it could also fail if Twitter stockholders “fail to adopt the Merger Agreement.”

This could only happen under “limited circumstances,” including if a third party other than Musk decides to offer “a competing acquisition proposal that constitutes a Superior Proposal.”

“The board has to act as fiduciary, so if a higher price comes, they need to consider it,” an unnamed former investment banker told The Epoch Times regarding the deal.

“But if a higher price does come, Musk can always up his offer. Practically speaking though, there are no other potential buyers right now,” it states.

There are also some stipulations that are in Musk’s favor, such as Twitter is prevented from soliciting any additional offers.

A recent tweet from Musk suggests he’s willing to toe this line to get the deal finalized.

“By ‘free speech’, I simply mean that which matches the law. I am against censorship that goes far beyond the law,” Musk wrote.

Project Veritas has shared audio from inside Twitter’s headquarters that reportedly shows the chaos that occurred inside the social media company after Tesla CEO Elon Musk acquired the company for $44 billion.

Twitter board member Bret Taylor reportedly started the meeting by recognizing the emotional shock that he and others at the company experienced following Musk’s acquisition.

“I also just want to acknowledge all the emotions of today. It is an emotional day. I want to acknowledge it,” Taylor said. “By law, we are required to act in the best interest of our shareholders,” he said.

“Elon [Musk] made it clear in public that a large part of the reason he bought the platform was because of our moderation policies and disagreements in how we deal with health. This puts Twitter service and trust and safety, as well as anybody who cares about health on the platform in a very difficult position,” Chief Marketing Officer Leslie Berland can be heard saying in the video clip.

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Twitter’s CEO Parag Agrawal can also be heard speaking about the news.

“I believe Twitter grows as a service allows for more people to use the product and have a better experience because we are able to make the conversation on Twitter, be safe, because we have built tools, processes for people to be able to feel safe and control their experiences,” Agrawal claimed. “I believe that there is a lot of work we have to do to continue making that better.”

“Sometimes that means more thoughtful moderation,” he added. “Sometimes that means making things simpler. Sometimes that means changing product incentives to be able to solve problems through products, sometimes ensure policies.”

WATCH:

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Twitter founder Jack Dorsey stunned the Twitter world by going against the woke liberals that currently are in charge of the company.

Dorsey tweeted after the purchase of the company by Musk in support of the sale.

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The sale is expected to close this year at $54.20 per share pending the approval of shareholders and regulatory approvals.

“Under the terms of the agreement, Twitter stockholders will receive $54.20 in cash for each share of Twitter common stock that they own upon closing of the proposed transaction,” the company said. “The purchase price represents a 38% premium to Twitter’s closing stock price on April 1, 2022, which was the last trading day before Mr. Musk disclosed his approximately 9% stake in Twitter.”

“Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated,” Musk said. “I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spambots, and authenticating all humans. Twitter has tremendous potential – I look forward to working with the company and the community of users to unlock it.”

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