The more I hear the pundants the more it sounds like the two sides will settle. They say even if Twitter wins the initial court case compensation would be an open-ended time frame and difficult to consummate. There's a huge place for compromise - Twitter benefits with a quick resolution and Musk benefits with a more reasonable purchase price.
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Elon & Twitter
- Thread starter Buckminster
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AlanSubie4Life
Efficiency Obsessed Member
I knew I should have bought TWTR. Now I have to wait for the next mean Tweet.
Very curious how much he is going to be forced to pay. Would guess over 38 billion.
Very curious how much he is going to be forced to pay. Would guess over 38 billion.
_Redshift_
Member
I hope for Tesla’s sake that this gets resolved ASAP. I hate Twitter (and all other social media apps), and I dislike the prospect that a social media platform will take some mindspace in Elon’s head, but it is what it is.
Billionaires play with big, expensive toys.
Are you highlighting a bullet point from an article instead of looking at the lawsuit itself? Might be more informative to look at the suit.
Daniel in SD
(supervised)
Twitter isn’t asking for compensation (because the contract only allows $1 billion). They’re asking for specific performance, for the court to order Elon to complete the acquisition.
What i am highlighting here is how MSM conveniently post articles based on their agenda. We all know CNBC has a lot of hate for Elon and Tesla.
Daniel in SD
(supervised)
Pretty sure the burden of proof is on Elon to show that he signed the contract against his will.
The media reporting has been pretty bad on all of this.
I suggest being skeptical of media reports and reading the documents that Elon and Twitter have submitted to the SEC and the court. And of course listening to Delaware M&A law experts.
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_Redshift_
Member
AlanSubie4Life
Efficiency Obsessed Member
AlanSubie4Life
Efficiency Obsessed Member
Yes, particularly the bot reporting has been far too generous to Elon. The media don’t seem to actually provide the simple facts of that situation in most articles. It’s not very complicated to distill down the mDAU number that Twitter provides and the confidence level they have in it.
EVNow
Well-Known Member
True and I believe there will be a settlement but it'll be a compromise. That CNBC link above has a retired Delaware Chancery Justice interview - she says Twitter could win the case but performance is another thing entirely relative to all the options Musk's affluence presents. She says he could just ignore an order and it would reflect poorly on the court and they don't want that. If Twitter doesn't want to play ball Musk could make this very complicated and drawn out. Of course the lawyers are certain they will win and love long, drawn-out, high publicity, expensive cases. Best bet is a meeting of the minds with a compromised settlement.
EVNow
Well-Known Member
AlanSubie4Life
Efficiency Obsessed Member
I definitely don’t want Elon to buy Twitter (not because I care what happens to him; he’ll be fine and probably eventually make money, I just don’t think he would do a good job with it and I think it would be a sh**show) .
But I see it as unlikely that he will be allowed to walk away. Would make a mockery of Delaware corporate law.
I don’t hate Elon AND I definitely think there’s a good chance he is forced to buy Twitter. You don’t think there are bad players?
This is Delaware and the chancellor who self appointed herself was apparently appointed to the Chancellor post by the DE governor. I haven’t looked but I assume Biden, who likely is friends with the governor, would love to see Elon getting ripped apart by this judge. Speculation but like Elon says it has a non-zero chance of happening.
AlanSubie4Life
Efficiency Obsessed Member
Has little to do with bad players! This is just the law and how they think it is best upheld to ensure good precedents are set. It’s important! It can’t just be people doing whatever they want, rendering contracts meaningless.
Are there political factors? Of course. But it’s perfectly reasonable for a fair and impartial judge to order Elon to buy Twitter.
_Redshift_
Member
I don't hate Elon. But I do think that whatever the outcome is here - if Twitter misrepresented, then Elon should be allowed to walk, if they didn't, he should be made to buy - is more in line with just following contract law. We don't get to just stir the pot for fun and walk away when there are investors involved. A contract is a contract.
Speaking of investors, it seems to me that the consortium that Elon has gathered cannot be thrilled with how this is going even if he does have standing. He'll potentially have at least a little more trouble rounding up this kind of capital the next time he wants to do something out of the box.
Biden does not care about Elon. Not even a little. There is zero demonstrated malice vs Elon, just felony level ignoring of him and his accomplishments. Hard to get it through the fanboy haze surrounding him, but ignoring something when you shouldn’t is not at all the same thing as hating it or taking any action against it.
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