The banks that agreed to finance Elon Musk's $44 billion acquisition of Twitter Inc have a financial incentive to help the world's richest person walk away but would face long legal odds, according to people close to the deal and corporate law experts.
The banks are waiting for the outcome of the legal dispute between Musk and Twitter before making any decisions, according to the sources. The trial is scheduled to start in October.
There is a catch to the banks serving as Musk's escape hatch. He would have to show in court that the banks refused to deliver on their debt commitments despite his best efforts, according to the terms of his deal contact with Twitter. "Musk would have to convince the judge he is not responsible for the bank financing falling through. That is hard to show, it would require a great degree of deftness from him and the banks," said Columbia Law School professor Eric Talley.Even if the banks can show they are not acting at Musk's behest, they would find it difficult to get out of the Twitter deal, the legal experts said.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Twitter questions banks over whether Musk tried to tank deal | AutoblogTwitter Inc is talking to banks, seeking evidence that Elon Musk tried to torpedo financing of his $44 billion takeover deal for the social media company.
Weiterlesen »
Musk response to Twitter lawsuit to be made public by FridayA judge has ruled that Elon Musk’s answer to Twitter’s lawsuit over his attempt to back out of a $44 billion deal to buy the social media company will be made public by Friday evening at the latest.
Weiterlesen »
Musk response to Twitter lawsuit to be made public by FridayA judge has ruled that Elon Musk’s answer to Twitter’s lawsuit over his attempt to back out of a $44 billion deal to buy the social media company will be made public by Friday evening at the latest.
Weiterlesen »
Musk response to Twitter lawsuit to be made public by FridayElon Musk’s answer to Twitter’s lawsuit over his attempt to back out of a $44 billion deal to buy the social media company will be made public by Friday evening at the latest, a judge ruled Wednesday.
Weiterlesen »
News reports: Musk countersuit accuses Twitter of fraudElon Musk accused Twitter of fraud in a countersuit over his aborted $44 billion deal for the social media company, which he said held back necessary information and misled his team about its true user base.
Weiterlesen »
Musk countersuit accuses Twitter of fraudAccording to The Washington Post, the countersuit filed by the billionaire and Tesla CEO filed Thursday alleges that Twitter committed fraud, breach of contract and violation of the Texas Securities Act.
Weiterlesen »