Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Elon’s Out

bloomberg.com

Post reply on HN
Print view View original

1–10 of 767 posts

Re: Elon’s Out

#2

Post by nabla9 »

This is a second time Musk has offered to buy a public company in bad faith.

His reputation as a sufficiently reliable counterparty is gone.

Re: Elon’s Out

#4

Post by alphabetting »

I found this part most interesting. Public awareness of the Delaware Court of Chancery is about to skyrocket during this court battle.

The fact that Musk is working in such bad faith here — that he seems so unconcerned with law and the contract he signed — cuts both ways. On the one hand, it will certainly annoy a Delaware chancellor; Delaware likes to think of itself as a stable place for corporate deals, with predictable law and binding contracts, and Musk’s antics undermine that. On the other hand it might intimidate a Delaware chancellor: What if the court orders Musk to close the deal and he says no? They’re not gonna put him in Chancery jail. The guy is pretty contemptuous of legal authority; he thinks he is above the law and he might be right. A showdown between Musk and a judge might undermine Delaware corporate law more than letting him weasel out of the deal would.

Re: Elon’s Out

#5

Post by tyleo »

alphabetting wrote: post #4

I found this part most interesting. Public awareness of the Delaware Court of Chancery is about to skyrocket during this court battle. The fact that Musk is working in such bad faith here — that he seems so unconcerned with law and the contract he signed — cuts both ways. On the one hand, it will certainly annoy a Delaware chancellor; Delaware likes to think of itself as a stable place for corporate deals, with predi…

Or they could put him in Chancery jail? The law is already undermined if no attempt is even made at upholding it.
Post reply on HN