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Note: the purpose of this offer (to complete his original offer) is to stop the lawsuit, as it appears to be contingent on [edit] the court delaying or terminat
by gamblor956 4y ago
Note: the purpose of this offer (to complete his original offer) is to stop the lawsuit, as it appears to be contingent on [edit] the court delaying or terminating proceedings [/edit]. (https://www.nbcnews.com/business/business-news/elon-musk-twitter-acquisition-deal-proposal-rcna50225 https://www.nbcnews.com/business/business-news/elon-musk-twi...)
But a court will not terminate or delay legal proceedings due to one party unilaterally offering to settle on the eve of trial, especially not if the offer is contingent on such court action. For the court to even delay proceedings this close to trial, both parties must approach the court requesting such a delay. And while this happens the overwhelming majority of the time when a settlement is being worked out, Musk is not a trustworthy counterparty and his prior behavior in this specific case works against him here. Twitter might be willing to delay the start of trial by a few days, but that's the best Musk will get unless he actually goes through with the acqusition.
There's no realistic possibility of the court terminating the proceedings before a deal closes unless Twitter withdraws its lawsuit. And they're not going to do that until the acquisition goes through, because if Musk pulls the rug out from under them again, they'd have to file a new lawsuit. That new lawsuit would be starting back at square one, and likely wouldn't be completed in time before the original offer expired.
- deleted 4y ago[deleted]
- tptacek 4y agoPeople have been saying a bunch of stuff like this on Twitter, but Twitter's current lawyers aren't stupid, and Musk playing like Lucy with the football is about the most obvious legal risk you can imagine. Whatever happens next, it's unlikely Musk is going to be able to use it to stall the Chancery Court. The best bet here is that Musk is simply going to end up owning Twitter.
- RedditKon 4y agoThey're unlikely to terminate entirely, but they are likely to put a temporary stay on the proceedings which is like hitting the pause button.