When your expensive lawyers do clown court filings.
Twitter is considering a range of options for adding certainty to the deal. They include court supervision of the closing process to ensure that Mr. Musk follows through on his commitment, and requesting that Mr. Musk pay an interest fee to compensate for the delays in the closing process, sources familiar with the talks said.
Okay: who benefits from this information? Well, Twitter, which has effectively communicated, “Hey, we’re not Charlie Brown. We need someone other than Lucy to hold the football.” Also, Twitter absolutely does not want a new deal price. So the news that the letter about the original price went out to Twitter Monday suggests Twitter won, and now its lawyers are taking a public victory lap.Alex Spiro, Musk’s lawyer,at a lower price under certain “self-serving” conditions.
The problem with a new deal price is that the shareholders have already approved the old one, and you’d have to go back to them with the new, worse, deal. The upside of taking a buck or two off the deal price is certainty — a thing investors generally like — and avoiding the trial, which will expose the inner workings of Twitter to lookie-loos like me.
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