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

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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Why doesn’t Musk simply cut a check for the billion he agreed to and move on? He could probably pull that money out of his pocket this very minute.[/quote]

His reasons for walking away aren’t ones that triggers the break clause.  Twitter will be be suing for specific performance (i.e., to force Musk to complete the merger).  Realistically courts tend to disfavor specific performance, but it could result in a judgment or settlement for far more than $1 billion.[/quote]

They don't disfavor it in M&A deals where the contract has a specific performance clause, as it does in this case.[/quote]

Yes, they often do, especially when it’s a company the size and significance of Twitter.  It’s one thing to put a small mom-and-pop in which no one else has a stake into the hands of someone who doesn’t want to own it and may just run it into the ground.  It’s another thing to do that with a $30 billion company that employs over 7,000 people. [/quote]

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