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Analysis: Twitter board says it will ‘enforce the merger agreement’ despite Elon Musk’s latest move

Analysis: Twitter board says it will ‘enforce the merger agreement’ despite Elon Musk’s latest move

Media

Elon Musk says his deal to acquire Twitter is on hold until the social media company proves the accuracy of its user numbers, citing spam bots. CNN’s Brian Stelter reports.

” data-duration=”04:14″ data-editable=”settings” data-headline=”Here’s what Elon Musk may be aiming for as he puts Twitter deal on hold” data-index=”idx-0″ data-show-name=”Quest Means Business” data-show-url=”https://www.cnn.com/shows/quest-means-business” data-source=”CNNBusiness” data-uri=”archive.cms.cnn.com/_components/video-resource/instances/h_4235d73622bf916f0353fd4944c231f5-h_776b87c10f430d660fcc07c8b6dcfdb5-pageTop@published” data-video-id=”business/2022/05/17/elon-musk-twitter-bots-tweet-stelter-sot-qmb-vpx.cnnbusiness” data-video-instance=”archive.cms.cnn.com/_components/video-resource/instances/h_4235d73622bf916f0353fd4944c231f5-h_776b87c10f430d660fcc07c8b6dcfdb5-pageTop@published”>

Elon Musk, chief executive officer of Tesla Inc., departs from court for the SolarCity trial in Wilmington, Delaware, U.S., on Monday, July 12, 2021. Musk was cool but combative as he testified in a Delaware courtroom that Tesla Inc.'s more than $2 billion acquisition of SolarCity in 2016 wasn't a bailout of the struggling solar provider. Photographer: Al Drago/Bloomberg via Getty Images

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Here’s what Elon Musk may be aiming for as he puts Twitter deal on hold

Fox News host Tucker Carlson is trying to distance himself from the document allegedly written by the shooter who killed 10 people in Buffalo, which endorses the “great replacement” theory. The conspiracy idea has been embraced and promoted by the host and far-right extremists.

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Tucker Carlson says Buffalo shooter’s document is ‘not really political’

CNN’s Jim Acosta talks to NAACP President Derrick Johnson about Tucker Carlson’s dangerous rhetoric around replacement theory after an 18-year-old was charged with killing ten people in a racially-motivated supermarket shooting in Buffalo, New York.

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CNN’s Brian Stelter takes a look at how White supremacist ideology spreads on different platforms in the wake of the shooting in Buffalo, New York. He also speaks with journalist Wesley Lowery on why the public should start looking at White supremacist violence differently.

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Former first lady Melania Trump appeared on Fox News for her first interview since leaving the White House.

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Getty Images

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CNN’s Brian Stelter discusses the Pennsylvania primary elections for the US Senate and governor and how it is splitting two prominent Fox hosts.

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Reporters Egor Polyakov and Alexandra Miroshnikova speak to Anderson Cooper about why they chose to publish articles critical of Russian President Vladimir Putin’s invasion of Ukraine.

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Two Russian reporters appeared to post at least 30 articles on the news site Lenta.ru, criticizing President Vladimir Putin’s invasion of Ukraine. CNN’s Brian Stelter reports on the messages that have since been taken down.

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New York Times reporter Stuart A. Thompson discusses what he learned after watching 50 hours of Russian state television about the invasion of Ukraine.

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The world has been getting another lesson in Russian disinformation during its invasion of Ukraine. Reality Check’s John Avlon speaks with Yevhen Fedchenko, a journalism professor and the editor-in-chief of the website StopFake.org. Since 2014, its team of fact-checkers and reporters have been pioneers in the open-source disinformation wars.

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Former President Donald Trump’s endorsement flub at a rally in Nebraska caught the attention of late night hosts Trevor Noah, Seth Meyers and Jimmy Fallon.

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Fox News and MSNBC opinion hosts Sean Hannity, Laura Ingraham, Rachel Maddow and Lawrence O’Donnell each reacted in real time to the breaking news that a SCOTUS draft opinion would strike down Roe v. Wade. Watch what they all said here.

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April Ryan, the longest-serving black female White House correspondent, turns emotional as she talks about the standing ovation she received at the White House Correspondents Dinner.

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President Joe Biden took the stage at the 2022 White House Correspondent Dinner along with host Trevor Noah to mock vaccine hesitancy, media bias, and “some guy named Brandon.”

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CNN media analyst David Zurawik and TIME national political correspondent Molly Ball discuss the potential effects of Tesla CEO Elon Musk buying Twitter.

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New York CNN Business  — 

A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here.

Who wants to own Twitter? Maybe Elon Musk doesn’t. Sure, maybe he is causing chaos to extract a lower price from the Twitter board, but he just as well may walk away altogether and create a Twitter clone. There is a “60%+ chance from our view Musk ultimately walks from the deal and pays the breakup fee,” analyst Dan Ives said Tuesday.

But for now the board is trying to hold him to it. On Tuesday morning, hours after Musk tweeted that “this deal cannot move forward” until his purported spam bot concerns are cleared up, the company filed its proxy statement for Musk’s takeover and said it wants to close the deal “as promptly as practicable.”

The board, in other words, wants to rid itself of Twitter. I obtained a new statement from the board Tuesday night that read, “The Board and Mr. Musk agreed to a transaction at $54.20 per share. We believe this agreement is in the best interest of all shareholders. We intend to close the transaction and enforce the merger agreement.” Key words: “Enforce the merger agreement.” Legal action seems likely.

But what if Musk pays to make this deal go away? What will become of the social network the media loves to hate? “Since it seems there’s a decent chance Elon pulls out of the Twitter deal, who else would be in line to buy up the pieces (at a much bigger discount)? My white knight guess is Microsoft,” Techdirt’s Mike Masnick wrote Tuesday. He said “I think that at the end of this process, it will be difficult for Twitter to remain an ongoing concern as its own entity” because “the board clearly has no clue what to do with it…”

Twitter employees are feeling every conceivable emotion – exhaustion, defensiveness, protectiveness, and all the rest. Some of it is evident on Twitter. Lara Cohen, Twitter’s global head of partners, tweeted about Musk without naming him, saying “The way some media outlets cover him, and do headlines just bc he ‘said’ something (whether it’s legal or factually accurate or possible or not) is SO trump 2016 coverage it’s painful to watch.”

It’s titled “Elon Musk Does Not Care About Spam Bots.” The Bloomberg Opinion columnist said “it is important to be clear” that Musk “is lying:” Disputes about spam bots “are not why he is backing away from the deal, as you can tell from the fact that the spam bots are why he did the deal.”

“Twitter could get all 229 million of its monetizable daily active users in a room and have them say ‘hello Elon, we are real,’ and that would not convince him, because he does not want to be convinced,” Levine wrote. “He wants to pay a lower price…”

Source: https://www.cnn.com/2022/05/17/tech/twitter-board-elon-musk-reliable-sources/index.html