All posts tagged "Merger"

An insider trading investigation involving a merger between a Miami-based company Digital World Acquisition Corporation (DWAC) group and Trump Media & Technology Group Corp (TMTG) has exposed the nearly $23 million windfall pocketed by Russian-American businessman Anton Postolnikov, according to The Miami Herald.

Postolnikov owns a Caribbean bank servicing the porn industry and loaned $8 million to Trump's media company which is the parent of Truth Social, according to several news reports.

The Russian American owns homes on the exclusive Fisher Island and is the nephew of a former high-ranking Russian government official who served under Russian President Vladimir Putin, according to the outlet.
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Washington (AFP) - A proposed deal that would see US Steel Corp bought by Japan's Nippon Steel should be closely investigated by American authorities, the White House said Thursday, warning it could have national security implications. Unveiling the planned transaction this week, the two companies depicted the deal as a marriage of the holders of top technologies that would boost steel output and accelerate efforts toward decarbonization. But US Steel's possible sale abroad has triggered furious criticism in Washington and from trade unions. President Joe Biden "believes the purchase of this i......

San Francisco (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 - was hoodwinked by Twitter into signing a $44 billion merger agreement," Twitter said. "That story is as implausible and contrary to fact as it sounds." Musk last week filed a ......

Washington (AFP) - Elon Musk on Friday filed claims against Twitter as he fights back against the tech firm's lawsuit demanding he be held to his $44 billion buyout deal. Musk's counter-suit was submitted along with a legal defense against Twitter's claim that the billionaire is contractually bound to complete the deal he inked in April to buy Twitter, the Chancery Court in the state of Delaware said in a notice. The 164-page filing was submitted as being "confidential," meaning the documents were not accessible by the public, the notice indicated. Rules of the court, however, require Musk to ......

San Francisco (AFP) - Twitter on Tuesday urged shareholders to endorse the $44 billion deal Elon Musk made to buy the online podium, setting a vote on the merger for September 13. The firm is locked in a legal battle with the mercurial Tesla boss over his effort to walk away from the agreement, and a judge has called for a trial to begin in October. "Twitter believes that Mr. Musk's purported termination is invalid and wrongful, and the merger agreement remains in effect," chief executive Parag Agrawal and board chairman Bret Taylor said in a copy of a letter to investors filed with the US Sec......

San Francisco (AFP) - 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 and it's ending as a circus show," Ives told AFP.  Musk, the founder of electric car company Tesla, sent a letter to Twitter on Friday saying he was pulling out of the controversial deal he made in......