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Matt Levine: >What Musk apparently wants is to pause the trial while they can work this all out: He offered to “proceed to closing of the transaction,” but onl
by Nokinside 4y ago
Matt Levine:
>What Musk apparently wants is to pause the trial while they can work this all out: He offered to “proceed to closing of the transaction,” but only “provided that the Delaware Chancery Court enter an immediate stay of the action ... and adjourn the trial.” What Twitter wants is sort of the opposite, to keep the pressure of a trial on Musk until he shows up with the money. This feels like a solvable problem — basically, you write some sort of agreement that says like “we’re going to work together to get the closing done this week, but if we don’t we’re gonna have an extra-super-bad trial,” and you get Chancellor McCormick to bless it — but they have to work together to solve it. They have to negotiate and draft an Agreement to Stick to the Agreement. If you’re writing that agreement, you have some trust issues.