I want it, but I don’t. that seems to be Elon with his assumed soon-to-be-adopted pet, Twitter. Musk is not just backing away for no reason, he’s backing away because not all glitter is gold.
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| The company, with the help of this lawyer at Wachtel tries to stop Elon, which it argued were more about the drop in Tesla’s shares and its effect on Musk’s wealth than anything else. |
| “Musk refuses to honor his obligations to Twitter and its stockholders because the deal he signed no longer serves his personal interests,” the company said in the suit, adding: “Musk apparently believes that he — unlike every other party subject to Delaware contract law — is free to change his mind, trash the company, disrupt its operations, destroy stockholder value, and walk away.” |
Of course, Elon countersued
So, where is all going ? You can’t force food down anyone’s throat. I don’t see Twitter being able to enforce the buyout.
| Twitter said in its lawsuit that Musk had appeared to abandon efforts to complete his debt financing. And he disappeared when Twitter’s executives, including Ned Segal, its C.F.O., reached out to discuss the figures about spam accounts that Musk had said he was concerned about. |
| Musk also appeared to get rid of executives who were helping him close the deal, such as Bob Swan, a former C.E.O. of Intel, according to the lawsuit. On June 23, Musk told Twitter that he had asked Swan “to depart the deal proceedings, as we are not on the same wavelength.” |
We’ll be watching more of Musk and Twitter, certainly.