- under 25 million
- over 25 million
0 voters
how is he going to get out of this for less than a billion? he can’t even make the case that the conditions that would let him off the hook for the breakup fee have been met, twitter has zero incentive to negotiate it down.
yeah this can’t be overstated, every journalist who parrots this should fucking resign, just absolutely the laziest shit ever, it’s like when they just mindlessly repeat whatever cops tell them as if it’s a direct, infallible proclamation from god
Yeah I think he’s either paying massively more than the breakup fee or actually being forced to close. This isn’t one of the calvinball areas of the legal system.
Delaware Court of Chancery? Is that real? lol
should have read more replies and I could have saved my pony a trip
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The “fuck you, no” defense. Or more specifically, the “drag it out for a decade through all manner of appellate courts and legal maneuvers defense.” Maybe I’m wrong. We’ll see.
It’s all Calvinball.
Always has been.
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I don’t think “no merger” is fully priced in (edit: I mean it’s priced as something that might happen rather than as something that’s guaranteed to happen). It’s still trading above its pre-Elon price, and since then it had a bad earnings report and the Nasdaq is down 8%.
That said, based on what the lawbros in here are saying, if I had to take a position on Monday I’d go long.
Maybe I’m wrong but business shit isn’t like lol executive privilege nonsense, you lose, you appeal, you lose again, you’re done.
Put a different way, the rules governing multi-billion dollar transactions among the richest people on earth are enforced differently than inherently political stuff not directly involving money.
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Let’s engage in some discovery first. Here’s 10,000 boxes. Oh wait, I don’t like what’s in your boxes, I challenge. Oh, I lost? Ok I appeal. Oh, I lost again? Ok I appeal again. Now I’m going to file some motions. They are a lot of pages. I lost those motions? Time to appeal! Rinse and repeat. Both sides have unlimited money for unlimited lawyer services. (Actually Musk has more).
Right but my impression is in these time sensitive merger cases the court doesn’t indulge that bullshit.
Usually intensive spinning of wheels in discovery occurs when there is some dispute about the facts and circumstances. When the facts are crystal clear, it’s actually kind of hard to draw out the legal process via discovery. You don’t actually get to ask the other side for literally anything you want to ask for in discovery, I guess their best shot at this would be to demand production of all internal Twitter correspondence including the words “Elon” or “Musk” because, hey, they might be pertinent to the case so we need XYZ law firm to read each and every one of them. That would naturally be fought with claims by Twitter that it’s too burdensome to product, etc., and that could draw out for a while.
They probably have to actually accept all requests from Musk’s side for normal discovery stuff like production of documents, response to interrogatories, etc., but if they piss off a good judge with a bunch of bad faith requests then those can all get shut down pretty quickly. But if they get a deplorable judge who likes the cut of Elon’s jib, who knows.
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The break fee is if the deal doesn’t close for reasons other than “I decided I don’t feel like closing anymore.”
I am on Team Nothing Matters and believe Musk can make this difficult and unpleasant enough that it makes sense for Twitter to settle. But does that then leave Twitter vulnerable to lawsuits from other shareholders for not holding out for the agreed upon sale price or the breakup fee?
I would definitely like to see the richest man in the world forced to do something he doesn’t want to do by the lol law, but I am not holding my breath.
“fuck you no” only works against little guys who don’t have their own army of in-house lawyers
right, and “uh… something something bots” isn’t going to cut it. I mean it fools the media (and some of the smoothbrains here apparently) but no (reputable) judge is going to be like “oh sure ok”
of course there are a lot of smoothbrain judges so I guess anything could happen but thinking this is some sort of magical get out of jail free card is hilariously dumb
A key point to remember here is that nobody who has a say actually wants Musk to buy Twitter. Twitter’s management is out of a job if this deal closes. They want $$$.
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discovery will go both ways and it’s a virtual lock that musk is going to do whatever he can to avoid that, he will come out looking 1000x worse than twitter does