ST Alpha - "he legally can't for that reason, is my understanding, without a $1B penalty" (Reading a Post)

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In response to "Twitter Deal: Musk making waves about fake account info. Possibly backing out of it. -- (link*)" by budice

he legally can't for that reason, is my understanding, without a $1B penalty

Posted by colin (aka colinski) Jun 6 '22, 06:39

also, tesla stock had to be above $740 iirc, to actually guarantee the loan and it is not due to him being a massive dickhead and sexual predator.

Responses:

Legally he can’t back out unless his loans fall through for any reason. - spamlet Jun 6, 07:01 3
- Was there a full financing contingency? It would be common in these deals for the financing to have very limited conditions under which it could back - pmb Jun 6, 07:42 1
  - I’m going off of what Matt Levine is saying as I never read the docs. - spamlet Jun 6, 07:51
- It'll be amusing to see his enablers twist around from "yeah! Show em what for!" to "who would want to buy twitter anyway? More brilliance, Elon!" -- (edited) - Reagen Jun 6, 07:04
It’s arguable that this isn’t a reason to back out for the penalty. - Will Hunting Jun 6, 06:59
And he waived due diligence! That's like not asking for an inspection on a house and then complaining there's termites. -- nm - Reagen Jun 6, 06:54 1
- And specifically said in the offer letter he wanted to take on the spam bots. - spamlet Jun 6, 06:57

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