With Elon Musk’s about face on Oct. 4 whereby he agreed to close on the deal to buy Twitter after months of trying to get out of it, many are wondering what the driving force behind his decision was and where the company will go from here.
With Elon Musk’s about face on Oct. 4 whereby he agreed to close on the deal to buy Twitter TWTR after months of trying to get out of it, many are wondering what the driving force behind his decision was and where the company will go from here.
According to The New York Times NYT , Twitter executives still remains wary of Elon Musk and is considering getting a judge to oversee the deal’s closing via a consent decree, as well as asking the judge to order Elon Musk to pay interest on any extra time it takes to close the transaction.
Management at Twitter may be worried that one or more lender will back out of their commitment to financing the deal. In the October 4 13D filing with the S.E.C., Musk noted that he intended to close on the merger with its original terms on the following conditions:
· Pending receipt of the proceeds of the debt financing contemplated; and
· Provided that the Delaware Chancery Court enter an immediate stay of the action, Twitter vs.
