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The inimitable Matt Levine in his Bloomberg Money Stuff column, two days ago: > As I have said before: "Uniquely among public-company CEOs, Elon Musk has in t
by FabHK 4y ago
The inimitable Matt Levine in his Bloomberg Money Stuff column, two days ago:
> As I have said before:
"Uniquely among public-company CEOs, Elon Musk has in the past pretended he was going to take a public company private with pretend financing! I am not saying that he’s joking now; I am just saying he’s the only person who has ever made this particular joke in the past."
> Perhaps he has decided that the joke would be even funnier if he signed a merger agreement, lined up billions of dollars of financing from banks and equity partners, committed to a $1 billion breakup fee and a specific-performance right in the merger agreement, got through antitrust review and a shareholder vote, showed up at the closing and said “nope, just kidding!” I mean, that would be very funny.
https://www.bloomberg.com/opinion/articles/2022-05-11/terra-flops https://www.bloomberg.com/opinion/articles/2022-05-11/terra-...
- aliswe 4y agoIt wasn't a joke though, the Saudi Investment Fund made the promise to back it up, which was allegedly witnessed by the Tesla CFO as well.
- shapefrog 4y agoMusk had one 30-minute conversation about potentially taking Tesla private with the Saudi Arabia Public Investment Fund (“Saudi PIF”) on July 31, 2018. No price was discussed, no structure for the transaction was proposed, no amount of funding was agreed. That is the full extent of the promise to back it up. If it wasnt a joke or stock price manipulation to stop loans against the stock from triggering, then Musk is retarded. Its pretty obvious he isnt retarded so it must be one of the other options.
- 55555 4y ago> No price was discussed. To be fair, the stock price is public info. It is generally understood that to take a company public you need a slightly higher offer and support of shareholders and/or board (Elon). So I could see how you could both be on roughly the same page re: price without talking about specific numbers.
- shapefrog 4y agoIf he thought they were on the same page then he is a retard.
- mrguyorama 4y ago>Its pretty obvious he isnt retarded What makes that obvious?
- aliswe 4y agoIf it was a joke, then he must be. Which he isn't. So it must be another option.
- hooande 4y agoI started reading this column to follow this saga, and I have been delighted so far. He has a way of explaining very complex financial topics in a way that's easy to understand. And his writing about the twitter deal is full of wit and personality. It's a great tragedy that his column is off today. Cannot wait to see what he has to say on Monday
- abawany 4y agoHe sometimes makes an exception to his day off if the events merit it, in his opinion. There might yet be a column today.
- bolasanibk 4y agoHe Did. https://www.bloomberg.com/opinion/articles/2022-05-13/elon-musk-trolls-twitter https://www.bloomberg.com/opinion/articles/2022-05-13/elon-m...
- FabHK 4y ago> Programming note: Money Stuff was supposed to be off today, but then my boss, Elon Musk, called me in to work anyway. :-)