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The commitment for financing had already been made by banks and could not be rescinded simply because they suddenly don't like Musk anymore. Throughout this wh
by mediaman 4y ago
The commitment for financing had already been made by banks and could not be rescinded simply because they suddenly don't like Musk anymore.
Throughout this whole saga it has been popularly believed that (1) the breakup fee represents an option for Musk to get out of the deal and that (2) the financing contingency is easy to get out of by having the banks cancel their commitments.
Both have been untrue the entire time. If they were true, then Musk would not be proceeding with the deal at the original price.