Elon Musk buys $3 billion stake (9.2%) in Twitter and is now the platform's largest shareholder

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

This is great. Bill Savitt is on the papers, though, not Strine.

I am quite confident that ect that Chancellor McCormick knows Strine is at Wachtell.

Did they draw McCormick already? Hoping they get Laster.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

This is great. Bill Savitt is on the papers, though, not Strine.

I am quite confident that ect that Chancellor McCormick knows Strine is at Wachtell.

Did they draw McCormick already? Hoping they get Laster.

Speculation is that McCormick will keep it for herself rather than assigning it, but not confirmed yet.

[Anonymous]

Why is this in the politics forum? Shouldn't it be in Money and Finance?

[Anonymous]

Anonymous wrote:Why is this in the politics forum? Shouldn't it be in Money and Finance?

Politics inspired Musk to make the offer, so…

[Anonymous]

Twitter is using wachtell

Musk is using skadden i believe

Musk already lost

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

The Delaware Chancery Court has granted specific performance in multi-billion dollar deals before.

In which cases has this happened before?

Here are a few:

https://jenner.com/system/assets/publications/15424/original/Ascher%20Lichtman%20Law360%20July%202016.pdf?1469542237

Thanks. That was a genuine, non-snarky question. IBP/Tyson was a huge deal.

It didn’t sound snarky.

[Anonymous]

Another case: Apollo's botched acquisition of Huntsman chemical company during the Financial Crisis. Apollo was going to pay $6.5B for Huntsman in a leverage buy-out.

Huntsman wanted to force the sale, but ran into its own liquidity problems. So they decided to settle and take cash + a debt investment.

Original breakup fee: $325m

Settlement: $325m break-up fee, $425m in cash settlement, and $250m purchase of Huntsman 10Y convertible notes by Apollo.

Source: https://www.nytimes.com/2008/12/15/business/worldbusiness/15iht-hexion.4.18685688.html

I think Elon gets out of this for around $3B all-in. What a schmuck.

[Anonymous]

Anonymous wrote:Another case: Apollo's botched acquisition of Huntsman chemical company during the Financial Crisis. Apollo was going to pay $6.5B for Huntsman in a leverage buy-out.

Huntsman wanted to force the sale, but ran into its own liquidity problems. So they decided to settle and take cash + a debt investment.

Original breakup fee: $325m

Settlement: $325m break-up fee, $425m in cash settlement, and $250m purchase of Huntsman 10Y convertible notes by Apollo.

Source: https://www.nytimes.com/2008/12/15/business/worldbusiness/15iht-hexion.4.18685688.html

I think Elon gets out of this for around $3B all-in. What a schmuck.

I think it will be more like $8 million (especially if it’s by order of the chancery court rather than a settlement), to wipe out what Musk sold his Tesla stock for that supposedly was for purposes of completing the Twitter accusation. Would send a statement that he can’t profit off the mess he made.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Another case: Apollo's botched acquisition of Huntsman chemical company during the Financial Crisis. Apollo was going to pay $6.5B for Huntsman in a leverage buy-out.

Huntsman wanted to force the sale, but ran into its own liquidity problems. So they decided to settle and take cash + a debt investment.

Original breakup fee: $325m

Settlement: $325m break-up fee, $425m in cash settlement, and $250m purchase of Huntsman 10Y convertible notes by Apollo.

Source: https://www.nytimes.com/2008/12/15/business/worldbusiness/15iht-hexion.4.18685688.html

I think Elon gets out of this for around $3B all-in. What a schmuck.

I think it will be more like $8 million (especially if it’s by order of the chancery court rather than a settlement), to wipe out what Musk sold his Tesla stock for that supposedly was for purposes of completing the Twitter accusation. Would send a statement that he can’t profit off the mess he made.

$8b? I hope it is big enough that it deters him from future things. He is such a jerk.

[Anonymous]

Anonymous wrote:Twitter is using wachtell

Musk is using skadden i believe

Musk already lost

Yes, Musk indeed has Skadden.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Another case: Apollo's botched acquisition of Huntsman chemical company during the Financial Crisis. Apollo was going to pay $6.5B for Huntsman in a leverage buy-out.

Huntsman wanted to force the sale, but ran into its own liquidity problems. So they decided to settle and take cash + a debt investment.

Original breakup fee: $325m

Settlement: $325m break-up fee, $425m in cash settlement, and $250m purchase of Huntsman 10Y convertible notes by Apollo.

Source: https://www.nytimes.com/2008/12/15/business/worldbusiness/15iht-hexion.4.18685688.html

I think Elon gets out of this for around $3B all-in. What a schmuck.

I think it will be more like $8 million (especially if it’s by order of the chancery court rather than a settlement), to wipe out what Musk sold his Tesla stock for that supposedly was for purposes of completing the Twitter accusation. Would send a statement that he can’t profit off the mess he made.

$8b? I hope it is big enough that it deters him from future things. He is such a jerk.

Yes, I meant $8billion, not million.

[Anonymous]

And now the SEC is investigating Musk again. 😆

https://www.wsj.com/amp/articles/sec-questioned-elon-musk-tweet-over-twitter-deal-11657815619#

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

This is great. Bill Savitt is on the papers, though, not Strine.

I am quite confident that ect that Chancellor McCormick knows Strine is at Wachtell.

Did they draw McCormick already? Hoping they get Laster.

Speculation is that McCormick will keep it for herself rather than assigning it, but not confirmed yet.

Confirmed it will be McCormick. She’s one of the few judges who has ever ordered specific performance. And she has zero tolerance for nonsense behavior by parties.

So basically, Musk is screwed.

[Anonymous]

the judge refused to delay the trial and set the date for a 5-day trial for October. seems really super fast , i doubt Elon is happy

https://www.cnn.com/2022/07/19/tech/twitter-elon-musk-lawsuit-first-hearing/index.html

[Anonymous]

Anonymous wrote:the judge refused to delay the trial and set the date for a 5-day trial for October. seems really super fast , i doubt Elon is happy

https://www.cnn.com/2022/07/19/tech/twitter-elon-musk-lawsuit-first-hearing/index.html

Elon wanted February and Twitter wanted September.