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> I think a better explanation is that Musk offered to buy Twitter as a cover for selling billions of dollars' worth of TSLA. Why waive due diligence then? Wha
by qudat 4y ago
> I think a better explanation is that Musk offered to buy Twitter as a cover for selling billions of dollars' worth of TSLA.
Why waive due diligence then? What’s that saying don’t assume malice when it can be explained by ignorance.
- pclmulqdq 4y agoYou can't announce that you are purchasing a public company until after due diligence, and the sale is in its final closing process. There is no "waiver" of due diligence per se, but the initial offer says "I did enough due diligence and I intend to purchase." Most people would do their due diligence under NDA for a while while negotiating prices before making an announcement, and before lining up funding.
- deleted 4y ago[deleted]