3 ms·
There isn't formal due diligence, he's already made the offer. He doesn't (legally) have access to any information that he didn't have access to weeks ago.
by hooande 4y ago
There isn't formal due diligence, he's already made the offer. He doesn't (legally) have access to any information that he didn't have access to weeks ago.
- gsibble 4y agoOf course there is formal due diligence. He basically gave them a term sheet and now they've opened their books. That's why he can walk away and pay $1 billion if he doesn't like what he sees.
- josho 4y agoWhat due diligence occurs when buying a public company? We already have access to the company’s financial filings.
- outworlder 4y agoSo you are saying TWTR reported fraudulent financials?
- parkingrift 4y agoThat isn’t how acquisitions works. What Elon and Twitter have done is effectively sign an LOI. Now they do actual diligence to close the deal, or walk away and pay the breakup fee.