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It's complicated. He offered way too much. He made an incredibly poor deal with them. The market went down after he made his offer. So he put himself into a bad
by rnk 4y ago
It's complicated. He offered way too much. He made an incredibly poor deal with them. The market went down after he made his offer. So he put himself into a bad position. Anything is worth what people will pay for it.
I thought maybe 10b was what it was worth. And he could have gotten out of it by paying a $1 billion cancel fee, something like that. It appeared his ego prevented him from considering that. But it all goes back to him signing a terrible agreement in the first place.
- detaro 4y ago> And he could have gotten out of it by paying a $1 billion cancel fee, something like that I'm not sure why people are still repeating that. No, he couldn't, that fee would have been due if external influence would have prevented him from completing the transaction (e.g. the government banning the sale somehow).
- rnk 4y agoHmm, I guess I could be wrong, I read that in a story about the purchase.