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No, it's worse than that. He can't just walk away and _pay_ the fine. He is obligated to close the deal and Twitter can force him to do so. If some external f
by avalys 4y ago
No, it's worse than that.
He can't just walk away and _pay_ the fine.
He is obligated to close the deal and Twitter can force him to do so. If some external force stops the deal from happening - or if he can show that Twitter egregiously violated the agreement - he can get away with not buying Twitter, but he still has to pay them $1B.
- jollybean 4y agoHey Zeus. How could Musk possibly have done this, which must have been against the advice of his Bankers? "I'm sending men to mars, ergo, I know more about M&A than i-bankers? This is the kind of hubris that takes people down.
- tveita 4y agoIt would be perfectly fine terms if he actually wanted to buy Twitter - at a silly price but hey, it's his billions of dollars. That's presumably what he told people and not "hey I'm just joking around, make sure to write the terms so the deal never actually completes"
- jollybean 4y agoOh gosh, no, clearly they are bad terms. Deals don't happen for a lot reasons, o rational person would want to these terms understanding risk. And it's doubtful Musk was so dumb he'd enter into this contract 'just for fun' knowing the terms. I suggested he did want to buy it, got bad advice or didn't listen to his bankers, and then the market crashed, and now he's in a bind.