On Friday, May 13, 2022 at 7:14:03 AM UTC-7, Technobarbarian wrote:
> On 5/13/2022 6:24 AM, Technobarbarian wrote:
> >
> > If you believe that the hold is temporary, you probably also
> > believe that Elon Musk is Santa Claus. The only person who believes
> > Twitter is worth what he offered is Musk.
> >
> > https://www.axios.com/2022/05/13/elon-musk-says-twitter-deal-temporarily-on-hold
> >
> >
> > "The company's shares plunged more than 17% in pre-market trading in
> > response to the news. Tesla's shares rose about 5%.
> >
> > The big picture: Musk's takeover bid has been wrought with so many
> > twists and turns that Wall Street is beginning to feel skeptical that it
> > will even happen.
> >
> > For Musk to liquidate a significant amount of his Tesla stake and to
> > wrangle bankers into giving him billions of dollars in financing, only
> > to backtrack due to a single article, shows how manic the entire
> > takeover process has been.
> >
> > Most acquirers go through a thorough due diligence process to address
> > these types of concerns before submitting a formal bid."
> >
> > "Our thought bubble: There's been speculation for weeks that Musk would
> > walk away, and he just took a giant first step."
> >
> > "https://www.cnbc.com/2022/05/12/twitter-market-cap-has-dropped-to-9-billion-below-musk-purchase-price.html"
> >
> >
> > "Twitter shares have fallen to about $46, well below Elon Musk’s
> > purchase price of $54.20."
> >
> > That was yesterday. This morning you can pick up shares for around
> > $45.
> >
> > TB
> I had to laugh at myself. I inadvertently left the Twitter stock
> price information on the top of my pile. The stock is now below $41 and
> is still dropping like a rock. Oh yeah, this just has "good deal"
> written all over it.
>
> TB

And I can see the shareholders getting all exuberant, and Zuckerberg’s lawyering up for welching on the deal.