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San Francisco, United States | AFP | Massive layoffs appear to be on the horizon at Twitter, especially if billionaire Elon Musk completes his $44 billion purchase of the company, the Washington Post reported on Thursday. While pitching his deal to buy Twitter to investors, Musk said he planned to get rid of nearly three-quarters of the firm’s workers, lopping its ranks to just over 2,000 employees, the Post reported. Even if Musk’s deal to […]
San Francisco, United States | AFP | Elon Musk on Wednesday said he is “excited” about taking over Twitter, expressing enthusiasm even though he’s spent months trying to break free of the $44 billion buyout contract. A US judge early this month suspended litigation in the saga over Musk’s proposed takeover of Twitter, giving the parties until October 28 to finalize the on-again, off-again megadeal. Twitter had filed a lawsuit to hold Musk to […]
SAN FRANCISCO, United States (AFP) — Elon Musk now has his own musk: the Tesla founder said he has launched a new fragrance called “Burnt Hair” and sold $1 million worth of the perfume in days. “Please buy my perfume, so I can buy Twitter,” he wrote on the platform Wednesday. Musk is expected to complete a $44-billion takeover of Twitter by the end of the month. If he fails to do so, a trial […]
New York, United States | AFP | by John BIERS A US judge on Thursday suspended litigation in the saga over Elon Musk’s proposed $44-billion takeover of Twitter, giving the parties until October 28 to finalize the on-again, off-again megadeal. Delaware Judge Kathaleen McCormick, ruling on a Musk request to freeze the case that had drawn a biting retort from Twitter, said a trial originally scheduled to begin in 11 days could be rescheduled for […]
by Glenn CHAPMAN Agence France-Presse SAN FRANCISCO, United States (AFP) — Elon Musk on Tuesday offered to push through with his buyout of Twitter at the original agreed price, as a trial over his efforts to withdraw from the deal loomed. The world’s richest man said in a filing with the Securities and Exchange Commission that he sent Twitter a letter vowing to honor the contract. The latest twist in the long-running saga came ahead […]
SAN FRANCISCO, United States (AFP) — Twitter and Elon Musk sparred in court on Tuesday, each digging for evidence to prevail in a high-stakes trial next month over the billionaire’s bid to break his buyout deal. Musk has been keen to find evidence to back his accusation that Twitter misled regulators and investors about what portion of accounts are actually spam or software “bots,” as well as its key measures regarding growth. Twitter, which has […]
San Francisco, United States (AFP) by Glenn CHAPMAN Elon Musk’s lawyers jumped Wednesday on the revelations of a Twitter whistleblower to try to force the platform to surrender vast amounts of information for their fight to cancel the billionaire’s buyout bid. The Tesla boss’s team told a US judge the former Twitter security chief’s allegations of major security gaps and problematic practices had bolstered their case, which has struggled for momentum in court. Musk has tried […]
WASHINGTON, United States (AFP) — Elon Musk has sold nearly $7 billion worth of Tesla shares, according to legal filings published Tuesday, amid a high-stakes legal battle with Twitter over a $44 billion buyout deal. The Tesla boss sold some 7.9 million shares between August 5 and 9, according to filings published on the Securities and Exchange Commission’s website. “In the (hopefully unlikely) event that Twitter forces this deal to close and some equity partners […]
SAN FRANCISCO, United States (AFP) — Twitter on Thursday said the notion Elon Musk was “hoodwinked” into inking a $44 billion buyout deal defies reason and the facts. In a filing, Twitter rejected counter claims made by Musk as he fights to walk away from the deal he inked in April to buy the San Francisco-based company. “According to Musk, he – the billionaire founder of multiple companies, advised by Wall Street bankers and lawyers […]
Washington, United States | AFP Twitter reported disappointing results on Friday, a miss that the social network attributed to “headwinds” including the uncertainty related to Elon Musk’s buyout bid. The firm is locked in a legal battle with the mercurial Tesla boss over his effort to walk away from his $44 billion deal to purchase the platform, leaving the company in limbo. Twitter missed expectations with revenue of $1.18 billion, due to “advertising industry headwinds… […]
by Glenn Chapman Agence France-Presse SAN FRANCISCO, United States (AFP) — Twitter on Tuesday sued Elon Musk for breaching the $44 billion contract he signed to buy the tech firm, calling his exit strategy “a model of hypocrisy,” court documents showed. The suit filed in the US state of Delaware urges the court to order the billionaire to complete his deal to buy Twitter, arguing that no financial penalty could repair the damage he has […]
by Julie JAMMOT Agence France Presse Courted and then jilted by the world’s richest person, Twitter looks well positioned to win a court battle with Elon Musk over a $1 billion breakup fee and more — but the company will not emerge unscathed. The entire saga has left observers baffled by what Wedbush analyst Dan Ives described as “one of the craziest business stories ever.” “I think it starts off as a circus show […]
