According to multiple media sources Twitter has reached a deal with the representatives of Elon Musk for the tech billionaire to purchase the social media company. According to the Wall Street Journal, over the weekend the outlines of the deal were agreed and last night the final assembly of the purchase came together.
Keep in mind that Twitter is slated to report first-quarter earnings this Thursday, and originally the board was going to wait until after that earnings announcement to respond to the bid.
Something changed.
My suspicion is the financials of the Q1 earnings report will not support the $54.20 high end evaluation offer originally proposed by Musk.
If the low Q1 earnings rumors are accurate; and if Twitter had declined or fought the offer; the board would have been in the position of declining a deal that was substantially higher than the company market value, a tenuous position legally. Thus, a deal was made.
(Wall Street Journal, update) – “Twitter is in advanced discussions to sell itself to Elon Musk and could finalize a deal Monday, people familiar with the matter said, days after the billionaire unveiled his $43 billion bid for the company.
The two sides worked through the night to hash out a deal that would be valued at $54.20 a share, or $44 billion, the people said. Assuming there isn’t a last-minute snag, the deal is expected to be announced after the market closes Monday, if not sooner.
“This is no small thing, to restore a republic after it has fallen into corruption. I have studied history for years and I cannot recall it ever happening. It may be that our task is impossible. Yet, if we do not try then how will we know it can’t be done? And if we do not try, it most certainly won’t be done. The Founders’ Republic, and the larger war for western civilization, will be lost.”
Our Father, who art in heaven, hallowed be thy Name. Thy kingdom come. THY WILL BE DONE, on earth as it is in heaven. Give us this day our daily bread. And forgive us our trespasses, as we forgive those who trespass against us. And lead us not into temptation, but DELIVER US FROM EVIL.