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Notice of termination of Twitter merger agreement

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Re: Notice of termination of Twitter merger agreement

#861

Post by solar-ice »

rvnx wrote: post #801
stingraycharles wrote: post #694

Earlier quoted context omitted.

I actually have experience with this type of stuff, some business tried to acquire mine and kept postponing, and ended up with some excuse that there wasn’t enough technical design documentation, which would be a real-breaker. It wasn’t super big money, but also not small (high 6-figures). I ended up suing them, won on all counts, and the deal had to go through. Unfortunately, this company simply refused to do that e…

Why would you force someone to buy something they don't want, whatever the reason is ? If they decided not to proceed to the deal it means it was a bad deal from their perspective or that it would put them in a worse situation. Essentially you are taking advantage of them by forcing them. It's like if you sell a very expensive "brown ice cream", the buyer tells you he wants to buy it, and then when the buyer has it i…

If he didn’t want to buy it, he shouldn’t have signed a contract saying they are going to buy it with a huge amount of fanfare, several lawyers, and initially against the desire of the company. He knew, well in advance, what he was buying, and he explicitly waived the right to due diligence.

Re: Notice of termination of Twitter merger agreement

#862

Post by hackerlight »

peanuty1 wrote: post #798
SergeAx wrote: post #688

Okay, if everyone is posting conspiracy theories - here's mine. Musk did this for people to stop clamouring about his alleged twins with that blue-eyed smarty from Neuralink.

Don't forget the SpaceX flight attendant he exposed his penis to and propositioned for sexual acts.

Allegedly. It's shameful that people throw around unproven claims on social media like this, and in their second breath will complain about disinformation coming from people they don't like.

Re: Notice of termination of Twitter merger agreement

#863

Post by ergocoder »

suzzer99 wrote: post #699
partloyaldemon wrote: post #691

Chancery courts will compel performance of this transaction absent a showing of an material adverse advent. Very, very high bar. The buyer is a highly sophisticated investor and the grounds that he is alleging form the basis of the breach of contract were and are public information that has not materially changed nor been alleged to have materially changed since the signing of the merger agreement. Moreover, and most…

Do they always have the option of settling at any point in the process? Like if Musk said "$20 billion penalty but I don't buy the company", I assume they'd say yes? (Or substitute a bigger number if not.) So are they just negotiating at this point if Musk has a penalty number he's willing to pay?

My bet is on this.

They will just negotiate. Nobody wants to go through a lengthy legal process.

I think the number will be at 5b. Because, at 5b, Twitter gets a 1y revenue for virtually no cost. Twitter doesn't want to sell to a buyer who doesn't actually want to buy. It's not good for anyone.

Imagine Musk buying Twitter and starting open up exec emails knowing about the bot numbers being inaccurate.

Re: Notice of termination of Twitter merger agreement

#864

Post by cynix »

jfk13 wrote: post #819
hansword wrote: post #802

Earlier quoted context omitted.

> buy more time until Tesla shares recover The problem is that Tesla is massively over-inflated and Musk knows it and many people believe that was actually the reason for the whole twitter thing (Musk converting overinflated Tesla shares to fair-market value Twitter shares). With Tesla very likely losing the 'biggest EV maker' title to Volkswagen by the end of the year, it here has to be some sleight-of-musk for TSLA…

> With Tesla very likely losing the 'biggest EV maker' title Since you mention it... https://uk.pcmag.com/cars-auto/141332/tesla-is-no-longer-the...

Very misleading to include hybrids in “EV sales”.

Re: Notice of termination of Twitter merger agreement

#865

Post by Ensorceled »

drexlspivey wrote: post #849
jsiepkes wrote: post #814

Earlier quoted context omitted.

Why wouldn't courts have the power to do that? If the court rules you have no grounds to terminate the contract then you will have to execute the contract as originally agreed upon.

Can they force all the banks that agreed to loan them money to go through with it?

They can force Musk to sell his other assets to complete the deal.

Re: Notice of termination of Twitter merger agreement

#866

Post by Forgeties79 »

stingraycharles wrote: post #707
giansegato wrote: post #698

Earlier quoted context omitted.

How could they refuse after being compelled by a court ruling? Did they appeal / sue you back? Can't see how they could simply say... "no".

The judge ruled that the payment had to be made immediately; they could sue back, but they would have to pay first. In their words, it was a “BS ruling”, and they simply didn’t pay. I’ll tell you that I didn’t know you could just say “no”, but they did. My lawyers were at the point that they would send a (legally backed) letter to all their customers, that their payments should be redirected to some court. It would h…

Stories like this remind me why I hate seeing advice on forums that often boil down to…”and if that doesn’t work, just sue them.“ It’s a massive, risky, expensive, physically and emotionally draining experience.

Re: Notice of termination of Twitter merger agreement

#867

Post by CogitoCogito »

remflight wrote: post #526
phailhaus wrote: post #521

Earlier quoted context omitted.

> Twitter can’t give Musk the data he needs to determine fake accounts. Twitter has already given Musk access to the "firehose of data". [1] Musk bragged about buying Twitter because of the bots. Nobody is going to believe that he suddenly cares now that there are too many, not after he waived due diligence and set the buying price as a 420 joke. [1] https://www.wired.com/story/elon-musk-twitter-firehose/

Read the letter from the lawyers. They gave Musk’s team limited access via api until a couple of days ago despite asking for it since may. The limited access was rate limited and had other restrictions. It’s obvious that with a rate limit the amount of data is not enough to do what they need to do.

Okay if the issue was his access being rate-limited, then what's the issue now that it no longer is? So Musk is able to actually find the evidence he needs now right?

Re: Notice of termination of Twitter merger agreement

#868

Post by rajnathani »

partloyaldemon wrote: post #691

Chancery courts will compel performance of this transaction absent a showing of an material adverse advent. Very, very high bar. The buyer is a highly sophisticated investor and the grounds that he is alleging form the basis of the breach of contract were and are public information that has not materially changed nor been alleged to have materially changed since the signing of the merger agreement. Moreover, and most…

IIRC there’s just a $1B penalty in the acquisition clause for Musk if the transaction doesn’t go through.

Re: Notice of termination of Twitter merger agreement

#870

Post by ljlolel »

drexlspivey wrote: post #849
jsiepkes wrote: post #814

Earlier quoted context omitted.

Why wouldn't courts have the power to do that? If the court rules you have no grounds to terminate the contract then you will have to execute the contract as originally agreed upon.

Can they force all the banks that agreed to loan them money to go through with it?

They can force his banks to sell enough Tsla shares to buy it
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