5 ms·
Where have you been? I think you may be uninformed on this. Here's some details: https://www.nytimes.com/2022/04/26/technology/twitter-musk-breakup-fee.html ht
by divided 4y ago
Where have you been? I think you may be uninformed on this.
Here's some details: https://www.nytimes.com/2022/04/26/technology/twitter-musk-breakup-fee.html https://www.nytimes.com/2022/04/26/technology/twitter-musk-b.... Later when Elon sought to pull out of the deal, Twitter threatened to go to court to enforce that $1B fee, which led to the buyout proceeding.
- jsnell 4y agoAs per your own link, the situations where that deal could be broken and the fee would be applicable were very limited (Musk not getting financing, Twitter finding a higher bidder). Musk changing his mind was not one of those situations, it was a binding deal. Twitter did not sue for the $1b, but for specific perfomance, i.e. closing the deal.
- divided 4y agoFair enough, I'm not versed on the legal in's and out's and it appears you're correct. I knew Twitter sought to close the deal, but most of the analysis I read claimed they could have chosen the $1B instead, as if both were viable legal paths. It appears that is incorrect.
- nickthegreek 4y agoThe $1b fine was not available to just use to back out of the deal. You are misinformed on this.
- divided 4y agoI agree, I was misinformed. Too many articles state both acquisition or $1B fine were viable routes for Twitter, but other sources with more solid analysis look to contradict that.
- jsjohnst 4y ago> Where have you been? I think you may be uninformed on this. I think you are victim to reading headlines and not understanding what Twitter went to court over. Elon paying the $1B wouldn’t have gotten him out of having to complete the deal. Here’s some details: https://www.cnbc.com/2022/05/13/elon-musk-cant-just-walk-away-from-twitter-deal-by-paying-1-billion.html https://www.cnbc.com/2022/05/13/elon-musk-cant-just-walk-awa...
- divided 4y agoI was aware that Twitter went to court to complete the deal, but I admit to being misinformed as much of the analysis I read stated both avenues ($1B fee or force the acquisition) were viable. For example, Dan Ives, who is often quoted in articles about this deal, had this to tweet: https://twitter.com/DivesTech/status/1545527442491822089?s=20&t=j756j79i0kvAdF9Bz3yYnQ https://twitter.com/DivesTech/status/1545527442491822089?s=2... It appears that is incorrect.
- jsjohnst 4y ago> I admit to being misinformed Thank you for replying earnestly and humbly. I wish more did that!
- deleted 4y ago[deleted]