Elon Musk may have to complete $44bn Twitter takeover, legal experts say

  • 📰 GuardianAus
  • ⏱ Reading Time:
  • 30 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 98%

Australia Headlines News

Australia Latest News,Australia Headlines

Tesla chief wants to terminate deal but he could be compelled to go through with it or pay a break fee

. Alternatively, the company can also seek a $1bn break fee from Musk for walking away from the deal in contravention of the agreement.

Quinn said Musk’s information requests on spam accounts were not “reasonable” and would not be accepted by the court. “He can’t use unreasonable information requests to create a pretext to claim a violation,” he said. Carl Tobias, Williams chair in law at the University of Richmond, said: “Musk’s filing does not appear to give him strong legal grounds to walk away from the deal. His counsel has only made allegations and arguments for Musk’s position and judges would have to decide whether the evidence that Musk would present is persuasive enough to support ending the deal.

Source: Law Daily Report (lawdailyreport.net)

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Please, no.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in AU

Australia Latest News, Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Elon Musk withdraws $44bn bid to buy Twitter after weeks of high dramaWalking away will not be easy for the world’s richest man, as Twitter says it will sue to keep deal alive Drama he stokes to keep his share prices inflated. What a shock. Not. I only have so much disdain and hatred to go around without another prime recipient to enter the draw
Source: GuardianAus - 🏆 1. / 98 Read more »

The Elon Musk Twitter paradoxInvestors are divided about whether Elon Musk’s move to pull out of his Twitter takeover is a case of market capitulation, or a sign that equity markets are likely to remain depressed.
Source: FinancialReview - 🏆 2. / 90 Read more »

Twitter to sue Elon Musk after abandoning takeover dealSEC will be jailing Twitters executives for lying.I doubt he cares. I would still put my money on Musk to win. want to see me without a bra?
Source: SkyNewsAust - 🏆 7. / 78 Read more »

Musk ditches Twitter deal, triggering defiant responseElon Musk on Friday pulled the plug on his $44 billion deal to buy Twitter, accusing the social media giant of 'misleading' statements about the number of fake accounts, a regulatory filing showed. Smart move This was just a story so the stock could make money on the stock market. Just wait, buy and sell and go with the profit. It wasn't a serious takeover. All you need is a potent buyer who could buy Twitter. That was already in the 80s. Over $10 profit on each share.
Source: dailytelegraph - 🏆 21. / 51 Read more »

Musk scraps Twitter deal, citing ‘misleading representations’Twitter hasn’t “complied with its contractual obligations”, Elon Musk said, in saying he wants out of his $64 billion bid.
Source: FinancialReview - 🏆 2. / 90 Read more »

Timeline: Elon Musk’s abandoned Twitter takeoverFrom the billionaire’s initial disclosure of his Twitter stake to his withdrawal of takeover bid
Source: GuardianAus - 🏆 1. / 98 Read more »