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It may appear that this may get Musk off the hook for buying Twitter because "Look how bad they are!" but, as I recall, Musk's problem is that his offer with wi
by michaelwilson 4y ago
It may appear that this may get Musk off the hook for buying Twitter because "Look how bad they are!" but, as I recall, Musk's problem is that his offer with without contingency - e.g. "Yah, I'll buy it, whatever".
So it may just be another event which will drive Twitter's price down even further and make it a _worse_ deal for him.
From Bloomberg "The buyers could only back out of the agreement in the case of a material adverse effect, a high bar that excludes issues like market volatility or industry challenges." (https://www.bloomberg.com/news/newsletters/2022-07-13/elon-musk-haunted-in-twitter-deal-by-seller-friendly-concessions https://www.bloomberg.com/news/newsletters/2022-07-13/elon-m...).
I suppose one could argue that the Whistleblower's report is "material adverse affect", something I'm sure will come out in the trial.