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Elon Musk tries to pacify Twitter’s acquisition

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Elon Musk is attempting to pull a fast one on Twitter’s acquisition, but Twitter is not having it.

Twitter hired a lawyer in the most obnoxious way possible: with the firm that invented the poison pill.

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That firm then sued Musk in an attempt to force the merger to take place.

Musk claims Twitter is refusing to provide him with the information he requires to determine the number of “spambots” on the site.

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This is not the same as claiming that Twitter’s accounting for inauthentic activity is incorrect. Even if that’s true, Musk’s team must show that it has a material impact on the business.

Musk is being sued by a group of short sellers for alleged fraud at Nikola and Lordstown Motors, which has resulted in SEC investigations.

Hindenburg Research has taken a long position on Twitter, effectively shorting Musk.

If you are approached for a buyout by someone who has a history of poor impulse control, violating agreements and launch licences, ignoring regulators, and bluffing that he will take his company private, your standard commonsense fiduciary duty is to tell him to go away.

Twitter’s board of directors should have listened to Elon Musk and done the right thing, which was to say “no” and go about their business.

 

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