Crick wrote:I think was 740, yeah. I had mentioned it earlier, but there were rumors he was thinking about selling SpaceX shares or something to try and compensate. At this point just take the billion penalty, geez.
An interesting wrinkle is that the buyout contract does not seem to leave a lot of outs, so potentially (and there is definitely some armchair lawyering here), Twitter could demand specific performance, and force Musk to complete the buyout at the offered price, 42% above its current market value. Or at least use the threat to extract an even higher breakup fee; everyone would be tied up in grinding litigation for years if they went that route.
(Side note: the only time Tesla stock has gone up in recent weeks is when Musk first announced the deal was on hold.)
Those sort of contact terms are a little uncommon, and I'm not surprised Twitter's lawyers took one look at Musk and negotiated them in there, though it is surprising that the other side agreed. But then, since Musk is now hiring lawyers from Twitter, maybe he just ran the proposal past r/legaladvice and called it a day.
: Mention something from KPCC or Rachel Maddow
: Go on about Homeworld for X posts
