A month ago, Elon Musk’s battle with Twitter Inc. was once a merger dispute.
Musk signed a merger settlement with Twitter in April, in which he agreed to purchase Twitter for about $44 billion.
Then the inventory market went down, and Musk determined that he didn’t desire to pay $44 billion for Twitter anymore.
And so, like plenty of different regretful acquirers earlier than him, he tried to locate an excuse to get out of the deal.
There is a trendy set of methods to do this. The merger settlement is seventy three pages long, full of representations and covenants and conditions.
You study thru the merger agreement, you discover some locations the place you assume Twitter has now not lived up to its responsibilities or met its conditions,
you ship Twitter a letter pronouncing that and terminating the deal, Twitter sues you,
and you meet up in Delaware Chancery Court to argue over what the merger settlement requires.