Extremalby
Menu
  • Business
    • Entrepreneurship
    • Personal Finance
  • Entertainment
    • Books
    • Celebrity
    • Music
    • TV
  • Sports
    • Golf
    • NCAAB
    • SOCCER
  • Technology
    • Artificial intelligence
    • Internet
    • Mobile
  • Contact Us
  • About Us
  • Important Links
    • Cookie Policy US
    • DMCA
    • Terms and Conditions
    • Privacy Policy
Menu
Twitter CEO says Elon Musk's big buyout could be reversed

Twitter CEO says Elon Musk’s big buyout could be reversed

Posted on May 15, 2022 by mangakiko

in to series of tweets sat out on Friday, Twitter CEO Parag Agrawal revealed that Elon Musk’s deal to purchase the company could fall through.

A lot has happened over the past several weeks. I’ve been focused on the company and haven’t said much publicly during this time, but I will now.

— Parag Agrawal (@paraga) May 13, 2022

Preparing for all scenarios

″While I expect the deal to close, we need to be prepared for all scenarios and always do what’s right for Twitter,” Agarwal said. “I’m accountable for leading and operating Twitter, and our job is to build a stronger Twitter every day.”

Musk had already tweeted earlier on Friday that the deal was on hold until he could determine how many fake accounts, like spam bots, were present on the platform. This move led to the stock sinking by almost 10 percent.

But getting out of the deal may prove more complicated than previously thought. Musk may have to pay a $1 billion reverse termination fee to Twitter and risk a lawsuit for breach of contract that could cost him plenty more.

This is because in this case there is no outside reason the deal can’t close such as regulatory intermediation, third-party financing concerns, or fraud. Only these three reasons would allow Musk to walk away from the deal without any responsibility to Twitter.

A possible walkout

So why is he claiming he might be canceling the deal?

It could be to nudge Twitter into lowering its price.“This is probably a negotiation tactic on behalf of Elon,” Toni Sacconaghi, Bernstein senior research analyst, said Friday on CNBC‘s “Squawk Box.” “The market has come down a lot. He’s probably using the guise of true active users as a negotiation plot.”

If he does go ahead with the deal’s cancellation, he is bound to suffer deep reputational damage that would make companies in the future uncertain of selling to him and even doing business with him. Now, that’s an option that doesn’t fare well for the billionaire entrepreneur!

.

Share this:

  • Twitter
  • Facebook
  • More
  • Reddit
  • Pinterest
  • Telegram
  • WhatsApp

Related

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

  • Forex Trading Betting the Ups And Downs
  • How To Identify and Prevent from FOrex Fraud
  • How to get the most out of your Forex currency
  • Why Forex Trading is so Popular now a days
  • Forex Trading Vs. Options Discover the Difference

Recent Comments

No comments to show.

Archives

  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • June 2022
  • May 2022

Categories

  • Artificial intelligence
  • Books
  • Business
  • Celebrity
  • Entertainment
  • Entrepreneurship
  • Environment
  • forex
  • Golf
  • Internet
  • Mobile
  • Music
  • NCAAB
  • Personal Finance
  • Physics
  • SOCCER
  • Sports
  • Technology
  • TV
©2023 Extremalby | WordPress Theme by Superbthemes.com