Elon Musk, Twitter Held Unsuccessful Talks About a Price Cut for Acquisition

Wall Street Journal2022-10-06

Representatives of Elon Musk and Twitter Inc. held unsuccessful talks about a possible price cut to his $44 billion deal to buy the social-media platform before he reversed course Monday and said ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

慢的老人
2022-10-06
慢的老人
$Twitter(TWTR)$Elon Musk painted himself into a corner.
- Hayz:
  itchy, scratch until bleed.
Singman
2022-10-06
Singman
Pls like
- TTH4Legs:
  K
Sphere
2022-10-06
Sphere
Hmm
- Sphere:
  Hmm
Sphere
2022-10-06
Sphere
Hmm
Wroy
2022-10-06
Wroy
k
- Wroy:
  k
DodoOne
2022-10-06
DodoOne
🤣
- yyhwin12345:
  Hi

Leave a comment

233

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1148814250?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2022-10-06 09:17","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1148814250","market":"us","top_or_hot":-1,"title":"Elon Musk, Twitter Held Unsuccessful Talks About a Price Cut for Acquisition","media":"Wall Street Journal","content":"<div>\n<p>Representatives of Elon Musk and Twitter Inc. held unsuccessful talks about a possible price cut to his $44 billion deal to buy the social-media platform before he reversed course Monday and said ...</p>\n\n<a href=\"https://www.wsj.com/articles/elon-musk-and-twitter-discussed-price-cut-to-44-billion-takeover-in-recent-weeks-11665017788?mod=Searchresults_pos1&page=1\">Source Link</a>\n\n</div>\n","source":"wsj_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Elon Musk, Twitter Held Unsuccessful Talks About a Price Cut for Acquisition</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nElon Musk, Twitter Held Unsuccessful Talks About a Price Cut for Acquisition\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-10-06 09:17 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.wsj.com/articles/elon-musk-and-twitter-discussed-price-cut-to-44-billion-takeover-in-recent-weeks-11665017788?mod=Searchresults_pos1&page=1><strong>Wall Street Journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Representatives of Elon Musk and Twitter Inc. held unsuccessful talks about a possible price cut to his $44 billion deal to buy the social-media platform before he reversed course Monday and said ...</p>\n\n<a href=\"https://www.wsj.com/articles/elon-musk-and-twitter-discussed-price-cut-to-44-billion-takeover-in-recent-weeks-11665017788?mod=Searchresults_pos1&page=1\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"TWTR","symbol_name":"Twitter","start_time":0,"source_url":"https://www.wsj.com/articles/elon-musk-and-twitter-discussed-price-cut-to-44-billion-takeover-in-recent-weeks-11665017788?mod=Searchresults_pos1&page=1","article_id":"1148814250","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1148814250","pubTimestamp":1665019060,"sourceInfo":{"source_id":"wsj_highlight","name":"The Wall Street Journal"},"weMediaInfo":null,"summary":"Representatives of Elon Musk and Twitter Inc. held unsuccessful talks about a possible price cut to ","collect":0,"end_time":0,"defaultTopTitle":"wsj.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"TWTR":"Twitter"},"translate_title":"埃隆·马斯克，推特就降价收购进行了不成功的谈判","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TWTR":0.9},"content_text":"Representatives of Elon Musk and Twitter Inc. held unsuccessful talks about a possible price cut to his $44 billion deal to buy the social-media platform before he reversed course Monday and said hewould return to the original agreement’s terms, according to people familiar with the matter.The informal discussions happened in a series of conference calls in recent weeks between lawyers and ended after the two sides failed to agree on terms of a potential deal, the people said.Mr. Musk’s proposal this week to move forward with the April 25 takeover agreement still left unresolved issues. As of late Wednesday, representatives of Mr. Musk and Twitter were trying to hash out the details of his proposal this week to stick to the original agreement, including what would be required from both sides for litigation over the stalled deal to be dropped and whether the deal’s closing would be contingent on Mr. Musk receiving the necessary debt financing, some of the people said.There was hope a deal could be reached Tuesday or Wednesday, averting a trial scheduled to start Oct. 17, the people said. In a sign of potential progress, the two sides have agreed to delay Mr. Musk’s deposition, which was scheduled to begin Thursday in Texas, some of the people said.The price-cut talks had broken off before Mr. Musk caught Twitter off-guard by sending the company’s lawyers a two-sentence letter detailing his intentions.Mr. Musk’s apparent change of heart Monday surprised many observers. TheTeslaInc. chief executive had spent the past several monthstrying to back out of the dealafter alleging Twitter misled him about key elements of its business, including the amount of spam on its platform.In July, Mr. Musk formally moved to walk away from the deal,prompting Twitter to sue himto follow through with the transaction on the agreed-upon terms. Mr. Musk countersued, alleging that Twitter had misrepresented the condition of its business and key metrics about the users on its platform, which Twitter has denied.For now, the Delaware Chancery Court judge presiding over the legal battle is pressing ahead withtrial preparations.NEWSLETTER SIGN-UPTechnologyA weekly digest of tech reviews, headlines, columns and your questions answered by WSJ's Personal Tech gurus.PreviewSubscribeChancellor Kathaleen McCormick ordered Mr. Musk’s team Wednesday to search for any morepossible electronic messagesrequested by Twitter as the two sides prepare for a five-day, nonjury trial in Wilmington, Del. She said neither party had moved to stop the litigation.“The parties have not filed a stipulation to stay this action, nor has any party moved for a stay,” the judge wrote Wednesday. “I, therefore, continue to press on toward our trial set to begin on October 17.”The Musk team has been aggressive in pushing for broad information from Twitter, including a range of employee communications and data related to spam and fake accounts. Those requests at times prompted frustration from Chancellor McCormick. She granted some requests but denied others, and once called Mr. Musk’s data requests absurdly broad.Legal experts have maintained from the beginning that Twitter appeared to have the stronger case, in part because Mr. Musk waived due diligence before agreeing to the deal and the merger agreement gave Twitter the right to sue him to follow through with it under a concept called “specific performance.”Still, even a small risk of Mr. Musk’s prevailing in a trial could be too much for a company the size of Twitter to bear. For this reason, the majority of broken deal cases end in negotiated settlements, often with a small price cut. Such was the case with litigation between LVMH Moët Hennessy Louis Vuitton SE and Tiffany & Co. in 2020. Those parties agreed to a nearly 3% price cut to avert a trial.While Twitter’s stock price has held up because of Mr. Musk’s potential acquisition, its performance has declined. The company reported a drop in revenue in the second quarter that it blamed on weakness in the advertising industry and uncertainty related to Mr. Musk’s acquisition.Mr. Musk has given few specific details about his plans for Twitter, but he has said he wants to transform Twitter as a private company and unlock what he called its extraordinary potential as a platform for free speech.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9915233931,"gmtCreate":1665038871624,"gmtModify":1676537548122,"author":{"id":"3582028884093480","authorId":"3582028884093480","name":"慢的老人","avatar":"https://static.tigerbbs.com/d8809bb976396889eb133162af0901b8","vip":1,"crmLevel":3,"crmLevelSwitch":1,"idStr":"3582028884093480","authorIdStr":"3582028884093480"},"htmlText":"<a href=\"https://ttm.financial/S/TWTR\">$Twitter(TWTR)$</a><v-v data-views=\"0\"></v-v>Elon Musk painted himself into a corner.&nbsp;","listText":"<a href=\"https://ttm.financial/S/TWTR\">$Twitter(TWTR)$</a><v-v data-views=\"0\"></v-v>Elon Musk painted himself into a corner.&nbsp;","text":"$Twitter(TWTR)$Elon Musk painted himself into a corner.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9915233931","repostId":1148814250,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":104239669,"gmtCreate":1665041935077,"gmtModify":1665041938806,"authorId":3576709204489965,"author":{"id":3576709204489965,"idStr":"3576709204489965","authorId":3576709204489965,"name":"Hayz","avatar":"https://static.tigerbbs.com/d87598e3b13004920f673918b320782e","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9915233931,"type":1,"supId":0,"prevId":0,"content":"itchy, scratch until bleed.","text":"itchy, scratch until bleed.","html":"itchy, scratch until bleed."}],"langContent":"EN"},{"id":9915295298,"gmtCreate":1665037439814,"gmtModify":1676537547998,"author":{"id":"3575125836760247","authorId":"3575125836760247","name":"Singman","avatar":"https://static.tigerbbs.com/d770feb757705f2d631d2d5f381ae07b","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3575125836760247","authorIdStr":"3575125836760247"},"htmlText":"Pls like","listText":"Pls like","text":"Pls like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9915295298","repostId":1148814250,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":104239618,"gmtCreate":1665041372563,"gmtModify":1665041375955,"authorId":3576220386239608,"author":{"id":3576220386239608,"idStr":"3576220386239608","authorId":3576220386239608,"name":"TTH4Legs","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"currentWearingBadge":{"badgeId":"972123088c9646f7b6091ae0662215be-1","templateUuid":"972123088c9646f7b6091ae0662215be","name":"Elite Trader","description":"Total number of securities or futures transactions reached 30","bigImgUrl":"https://static.tigerbbs.com/ab0f87127c854ce3191a752d57b46edc","smallImgUrl":"https://static.tigerbbs.com/c9835ce48b8c8743566d344ac7a7ba8c","grayImgUrl":"https://static.tigerbbs.com/76754b53ce7a90019f132c1d2fbc698f","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2024.01.06","exceedPercentage":"60.56%","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1100},"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9915295298,"type":1,"supId":0,"prevId":0,"content":"<span class=\"s1\">K</span>","text":"<span class=\"s1\">K</span>","html":"<span class=\"s1\">K</span>"}],"langContent":"EN"},{"id":9915296163,"gmtCreate":1665036862452,"gmtModify":1676537547930,"author":{"id":"3573432013960035","authorId":"3573432013960035","name":"Sphere","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":4,"crmLevelSwitch":0,"idStr":"3573432013960035","authorIdStr":"3573432013960035"},"htmlText":"Hmm","listText":"Hmm","text":"Hmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9915296163","repostId":1148814250,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":104239021,"gmtCreate":1665036868448,"gmtModify":1665036871742,"authorId":3573432013960035,"author":{"id":3573432013960035,"idStr":"3573432013960035","authorId":3573432013960035,"name":"Sphere","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9915296163,"type":1,"supId":0,"prevId":0,"content":"<span class=\"s1\">Hmm</span>","text":"<span class=\"s1\">Hmm</span>","html":"<span class=\"s1\">Hmm</span>"}],"langContent":"EN"},{"id":9915296378,"gmtCreate":1665036856194,"gmtModify":1676537547929,"author":{"id":"3573432013960035","authorId":"3573432013960035","name":"Sphere","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":4,"crmLevelSwitch":0,"idStr":"3573432013960035","authorIdStr":"3573432013960035"},"htmlText":"Hmm","listText":"Hmm","text":"Hmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9915296378","repostId":1148814250,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9915293405,"gmtCreate":1665036100507,"gmtModify":1676537547859,"author":{"id":"3583235514597911","authorId":"3583235514597911","name":"Wroy","avatar":"https://static.tigerbbs.com/b08fc03f5ff4c54763ac341cfc008167","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3583235514597911","authorIdStr":"3583235514597911"},"htmlText":"k","listText":"k","text":"k","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9915293405","repostId":1148814250,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":104238930,"gmtCreate":1665036108088,"gmtModify":1665036112121,"authorId":3583235514597911,"author":{"id":3583235514597911,"idStr":"3583235514597911","authorId":3583235514597911,"name":"Wroy","avatar":"https://static.tigerbbs.com/b08fc03f5ff4c54763ac341cfc008167","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9915293405,"type":1,"supId":0,"prevId":0,"content":"<span class=\"s1\">k</span>","text":"<span class=\"s1\">k</span>","html":"<span class=\"s1\">k</span>"}],"langContent":"EN"},{"id":9915299209,"gmtCreate":1665035703702,"gmtModify":1676537547820,"author":{"id":"4105324811361770","authorId":"4105324811361770","name":"DodoOne","avatar":"https://community-static.tradeup.com/news/cad27e45edc4c5fda582f35521fe85b5","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"4105324811361770","authorIdStr":"4105324811361770"},"htmlText":"🤣","listText":"🤣","text":"🤣","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9915299209","repostId":1148814250,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":104239196,"gmtCreate":1665038107880,"gmtModify":1665038111074,"authorId":3586228965364851,"author":{"id":3586228965364851,"idStr":"3586228965364851","authorId":3586228965364851,"name":"yyhwin12345","avatar":"https://static.tigerbbs.com/f73f48f7dbf02904c9a179fb59cc138d","vip":1,"currentWearingBadge":{"badgeId":"1026c425416b44e0aac28c11a0848493-2","templateUuid":"1026c425416b44e0aac28c11a0848493","name":"Senior Tiger","description":"Join the tiger community for 1000 days","bigImgUrl":"https://static.tigerbbs.com/0063fb68ea29c9ae6858c58630e182d5","smallImgUrl":"https://static.tigerbbs.com/96c699a93be4214d4b49aea6a5a5d1a4","grayImgUrl":"https://static.tigerbbs.com/35b0e542a9ff77046ed69ef602bc105d","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2024.03.05","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1001},"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9915299209,"type":1,"supId":0,"prevId":0,"content":"<span class=\"s1\">Hi</span>","text":"<span class=\"s1\">Hi</span>","html":"<span class=\"s1\">Hi</span>"}],"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":233,"commentSize":19,"repostSize":0,"favoriteSize":1,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1148814250"}