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SEC filing: in a letter to Twitter, Elon Musk revives his original bid for $54.20 per share, aiming to avoid a courtroom fight

Elon Musk is proposing to buy Twitter Inc. for the original offer price of $54.20 a share, Bloomberg News reports.Musk made the proposal in a letter to Twitter …

Bloomberg Ed Hammond

Context & Ripple Effects

Musk's revived offer returns to the $54.20-per-share proposal made in April, which Twitter later accepted in an agreement requiring shareholder and regulatory approval. The deal's financing was subsequently reinforced by an additional $6.25 billion of Musk equity financing.

The letter shifts the immediate focus from enforcing the signed acquisition agreement in court to whether the parties can close on the original terms, with debt financing and ending deal-related litigation identified as conditions.

First-order effects

  • Twitter and Musk have a path to avoid their courtroom fight at the original price, conditional on debt financing and the termination of legal actions tied to the transaction.
  • Twitter shareholders again face a proposed cash exit at $54.20 per share rather than an unresolved dispute over whether Musk must complete the agreed acquisition.

Second-order effects

  • The lenders behind the debt package become central to closing: Musk's proposal expressly makes their financing a condition of proceeding.
  • Ending the litigation would replace a court-driven timetable with transaction closing work, concentrating execution risk on financing and the remaining approval process.

Third-order effects

  • If parties increasingly return to agreed terms after litigation begins, signed take-private agreements will carry greater practical weight as leverage even when buyers later seek to renegotiate.
  • The episode underscores that large buyouts are governed not only by the bid price but by the durability of committed equity, debt financing, and the merger agreement's enforcement terms.

The trend: The Twitter dispute is a data point in high-profile take-private deals becoming tests of financing certainty and contract enforcement after a board accepts a bid.

Discussion

  • @twitterir @twitterir on x
    Twitter issued this statement about today's news: We received the letter from the Musk parties which they have filed with the SEC. The intention of the Company is to close the transaction at $54.20 per share.
  • @oneunderscore__ Ben Collins on x
    For those of you asking: Yes, I do think this site can and will change pretty dramatically if Musk gets full control over it. No, there is no immediate replacement. If it gets done early enough, based on the people he's aligned with, yes, it could actually affect midterms.
  • @laurenshirsch Lauren Hirsch on x
    Per newly public court filing, Elon Musk had cancelled his Sept 28 deposition bc of “Covid exposure risk” https://twitter.com/...
  • @sarahjeong Sarah Jeong on x
    honestly I think he got ratio'd so hard last night that he decided to buy twitter after all
  • @ruchowdh Rumman Chowdhury on x
    Living the plot of succession is fucking exhausting
  • @willoremus Will Oremus on x
    Truly had no idea Elon Musk was even capable of backing down and admitting defeat https://www.bloomberg.com/...
  • @chancery_daily @chancery_daily on x
    @OldMehra One option we're discussing on our team call is a solid option: the only way to stop Twitter from litigating full steam ahead would be to stipulate to a judgment of specific performance as requested, which would allow the Court to retain enforcement power but bypass the…
  • @mattyglesias Matthew Yglesias on x
    IMO the relationship between Twitter content moderation policies and electoral outcomes is a little ambiguous — letting Trump back on here almost certainly good for Dems, letting more Nazis and bigots back on also probably good for Dems. https://twitter.com/...
  • @caseynewton Casey Newton on x
    Incredible to think about how much human effort was wasted over the past few months as Elon flailed. I read multiple profiles of a chancery court judge!
  • @danprimack Dan Primack on x
    So many Elon fanboys argued that he was playing chess while Twitter was playing checkers. Turns out that Elon might have been playing Candy Land.
  • @karaswisher Kara Swisher on x
    Lastly, if he gets it Donald Trump will be back on. He said he would do that and he will. Had he just paid to settle and current Twitter management was in charge, not so much.
  • @oneunderscore__ Ben Collins on x
    If Musk is really taking this site private, there are no real guardrails anymore. Rulemaking can be capricious. He can elevate any idea or person he wants through recommendations and UX choices and there will be no oversight on this as a private company.
  • @kaileyleinz Kailey Leinz on x
    *MUSK SAID TO PROPOSE TO TWITTER TO PROCEED W/ DEAL AT $54.20 $TWTR shares just spiked and now are halted https://twitter.com/...
  • @5_min_macro @5_min_macro on x
    Everybody wants Elon Musk to be forced to buy Twitter, but nobody wants him to actually buy Twitter - quite the paradox.
  • @bondhack Robert Smith on x
    To everyone freaking out about Elon Musk owning twitter, relax. In 18 months the 2nd lien lenders will own it.
  • @thestalwart Joe Weisenthal on x
    Everybody who was really excited about the prospect of Elon losing in court, can now flip back to being dismayed that he might buy Twitter.
  • @carnage4life Dare Obasanjo on x
    Congratulations to Parag who stands to make $42M if Elon fires him within the first 12 months of owning the company. https://www.bloomberg.com/...
  • @moskov Dustin Moskovitz on x
    https://twitter.com/... https://twitter.com/...
  • @oneunderscore__ Ben Collins on x
    Elon Musk got embarrassed on Twitter yesterday by a lot of the Western world, and continuing this lawsuit would've meant releasing more private texts. There's always a desire to over-intellectualize the decision-making of the richest guy in the world, but don't over think this.
  • @oneunderscore__ Ben Collins on x
    We know from Musk's private texts he talks with people who want to let Trump back on and make a “Blake Masters type” a “VP of enforcement.” Masters is a far-right Senate candidate backed by Facebook founder and Trump donor Peter Thiel. https://twitter.com/...
  • @caseynewton Casey Newton on x
    In a true only-at-Twitter moment, the Musk news dropped as employees were 45 minutes into a three-hour meeting to plan their 2023 strategy
  • @dkthomp Derek Thompson on x
    Elon is such a committed advocate of open free speech norms that he agreed to do the Twitter deal only after his entire text message history had been published for the world to read. Principled. Gutsy. Inspiring.
  • @oneunderscore__ Ben Collins on x
    What does this look like in the short term? Abandonment of traditional moderation policies. Stuff like Pizzagate — pushed by bots and liars — will be protected. Disinfo campaigns will top trending topics and drive news cycles. Authoritarian governments will have a field day.
  • @oneunderscore__ Ben Collins on x
    Yesterday: Elon Musk claims people disagreeing with him on Twitter about his plan to potentially cede Crimea to Russia is a “bot attack” with no evidence. Today: Elon Musk buys Twitter at full purchase price. https://twitter.com/...
  • @ruthbenghiat Ruth Ben-Ghiat on x
    Everything is just a means to an megalomanic end for this individual https://twitter.com/...
  • @teroterotero Tero Kuittinen on x
    Twitter opening at $51.80 because nobody knows if Elon will flip again. CNBC twists the knife: “Some think this would be trading at $15 without him... maybe he was worried about depositions”
  • @caseynewton Casey Newton on x
    Even if Elon lost in chancery court, he might have only had to pay $1 billion to get out of the deal. But now he doesn't even want to try. It might be the weirdest part of the year's weirdest business story https://www.platformer.news/ ... https://twitter.com/...
  • @ratemyskyperoom Room Rater on x
    Poor judgement. Lacks future vision. Detrimental to the interests of free speech in general and @Twitter in particular. 0/10 https://twitter.com/...
  • @donie Donie O'Sullivan on x
    The reaction from Twitter employees on @TeamBlind — an app that allows people at different companies to post anonymously — is something to behold. #OneTeam https://twitter.com/...
  • @therealjuicyj Juicy J on x
    Congrats! make Twitter cool again 🙏🏿 https://twitter.com/...
  • @migueldeicaza Miguel de Icaza on x
    Translation: the shenanigans surfacing during discovery and the ones that will come out are worth a lot more than 44 billion dollars. https://twitter.com/...
  • @pearkes George Pearkes on x
    He's making it conditional on the Chancery court issuing an immediate stay, therefore he's just using this to run out the clock on the debt financing, right? https://twitter.com/...
  • @kantrowitz Alex Kantrowitz on x
    “Congratulations, Parag: You outmaneuvered Musk, came out unscathed and millions of dollars richer. You're under 40, have FU money, and your reputation is largely intact. You just won at life.” - Twitter Blind forum to @paraga https://www.platformer.news/ ... via @CaseyNewton
  • @ryback @ryback on x
    Please fix the accounts that are being restricted from corruption. @paraga has to go and anyone else tied into the horrible things this app has done. 🇺🇸 💪 https://twitter.com/...
  • @donie Donie O'Sullivan on x
    TWITTER'S GENERAL COUNSEL @edgett IN EMAIL TO ALL STAFF: “We received the letter from the Musk parties which they have filed with the SEC. Our intention is to close the transaction at $54.20 per share.”
  • @brianboland Brian Boland on x
    Is there any way that @elonmusk closes @Twitter before the US midterms? Because if yes and he makes a bunch of rapid arbitrary changes, that could really create some issues with misinformation and influence.
  • @pkafka Peter Kafka on x
    @danprimack I guess I'd read that as “Elon would like the trial to stop.”
  • @zoeschiffer @zoeschiffer on x
    The vibe inside Twitter was bleak today as (some) employees appear to have reached a breaking point on caring about what happens to the company. Read about their reactions in today's column: https://www.platformer.news/ ...
  • @eliothiggins Eliot Higgins on x
    Predictions on how long it takes Twitter to start haemorrhaging users? https://twitter.com/...
  • @oneunderscore__ Ben Collins on x
    In the longterm, Musk's plans for this website are a suicide bomb. Very few people want to use a moderation-free app saturated with lies by design. We know this from the dozens of Twitter clones who've tried and failed. But he seems deadset on taking bad advice from bad people.
  • @deitaone @deitaone on x
    ELON MUSK FILES SEC FILING ON TWITTER
  • @mgsiegler M.G. Siegler on x
    In the end,* the ability to edit tweets was worth around $40B, as it turns out. *this is quite likely not the end https://twitter.com/...
  • @mims @mims on x
    I wonder what % of the staff cuts Musk proposed will happen just through rapid voluntary exits
  • @timobrien Tim O'Brien on x
    When you decide to buy a company after a court case stirred up by your refusal to honor your original agreement to buy the same company produces lots of embarrassing text messages. https://twitter.com/...
  • @sarahfrier Sarah Frier on x
    Employees heard about this on Twitter as they were in 2023 planning meetings 🙃 https://www.bloomberg.com/...
  • @chancery_daily @chancery_daily on x
    just remember, Twitter is not going to stop litigating the case until this deal is done. another promise is about as good as the first contractual promise (and we see how well that one played out). https://twitter.com/...
  • @kateconger Kate Conger on x
    Now Twitter has to decide if this is a Lucy with the football moment, or if Musk is serious. The company could ask for court supervision of the deal closing to make sure it actually happens.
  • @sherman4949 Alex Sherman on x
    The good news about Musk finally buying Twitter is it ends all this uncertainty. Now, we can all look forward to a drama-free ownership, marked by what's sure to be general peace and quiet.
  • @danprimack Dan Primack on x
    @chancery_daily Agree. Still not sure why Elon sent them a letter rather than simply withdrawing his lawsuit — unless: (1) he wants some other concession, (2) his lawyers want to make sure Twitter also drops countersuit (though i dunno why). Maybe something about sealing certain …
  • @chancery_daily @chancery_daily on x
    y'all think this is a done deal, but there are still steps to be taken on all fronts. and twitter has no incentive to slow down without a strong incentive. this could do it ⤵️ https://twitter.com/...
  • @alexjamesfitz Alex Fitzpatrick on x
    *delaware court of chancery disappears once again under the desert sands, where it will lay idle for one thousand years, as is written*
  • @stevekovach Steve Kovach on x
    Dying to know 1.) Musk's stated reason for changing his mind 2.) The real reason he changed his mind.
  • @rmac18 Ryan Mac on x
    Just imagining Elon and his lawyers working diligently on Monday to put to bed one debacle, only for him to fire up his Twitter account and start posting about his solutions to an on-going geopolitical conflict. https://www.nytimes.com/... https://twitter.com/...
  • @apompliano @apompliano on x
    Elon Musk, Chief Meme Officer at Twitter
  • @oneunderscore__ Ben Collins on x
    Anyway, I would love to see the final financing on this Twitter deal. We all know Elon is spearheading this, but who is really buying this company?
  • @davepell Dave Pell on x
    It's sad that Twitter has a CEO and board who think Elon Musk is more qualified to run the company than they are. It will end in disaster.
  • @apmassaro3 Paul Massaro on x
    Is Elon really this angry with me? https://twitter.com/...
  • @jsrailton John Scott-Railton on x
    Do you want Elon Musk to have access to your DMs? Serious question. Logical conclusion: #EncryptOurDMs
  • @litcapital @litcapital on x
    So Elon Musk is moving ahead with the original deal to buy Twitter. Seems like he knew he was fucked in court but idk I didn't follow any of it beyond the cringe texts
  • @malwaretechblog Marcus Hutchins on x
    Elon Musk next week after getting roasted by Zelenskyy: https://twitter.com/...
  • @jtemple James Temple on x
    Is it a “proposal” if he entered into a binding commitment at that price months ago? Or is the proper verb choice “concedes defeat & implicitly admits he had no legal leg to stand on, in what amounts to a humbling blow to his deal-making credibility.” https://www.bloomberg.com/..…
  • @renato_mariotti Renato Mariotti on x
    This was probably the least bad option available to Elon Musk. It was apparent that he was going to lose in court, given that he waived due diligence and his supposed reasons to nix the purchase were quite suspect. The alternative was paying billions to Twitter in a settlement. h…
  • @actbrigitte Brigitte Gabriel on x
    Thank goodness for Elon Musk!
  • @danprimack Dan Primack on x
    Last week we wrote about how Elon knew there was a good chance he'd lose, and how he'd view his Twitter ownership as a chance to prove the critics wrong. https://www.axios.com/...
  • @karaswisher Kara Swisher on x
    He was going to have to pay one way or another, as he was not going to win in Delaware so he might as well own it as he agreed to. https://twitter.com/...
  • @jyarow Jay Yarow on x
    Everybody was mean to him about Russia-Ukraine stuff and he said, 'oh yeah, I'll show all of you.'
  • @byjacobward Jacob Ward on x
    Working at Twitter is a lot right now, it seems. https://twitter.com/...
  • @dsilverman Dwight Silverman on x
    There's no change in reality: Musk would be a terrible steward of Twitter. He has clearly shown he's naive and ignorant about content moderation (among other things). He'd be a disaster. I usually don't root for him, but I was pulling for him to win his battle to withdraw. https:…
  • @mmasnick Mike Masnick on x
    Imagine paying $44billion to keep the next batch of text messages from coming out publicly.... https://www.bloomberg.com/...
  • @danprimack Dan Primack on x
    Big thing to keep in mind: 1/ Even if Elon is offering the same price, we don't know if he's asking for other terms to be changed.
  • @teroterotero Tero Kuittinen on x
    So now a newly radicalized Elon who bitterly resents most Twitter users will get to torture both Twitter executives and us without any constraints. A CEO who genuinely loathes his new company and will ask Thiel and Bannon advice on what to do.
  • @liron Liron Shapira on x
    What a difference the edit feature makes https://twitter.com/...
  • @kifleswing Kif on x
    This is a waste of time
  • @zerohedge @zerohedge on x
    yes https://twitter.com/...
  • @jessicalessin Jessica Lessin on x
    My theory on all of this is that Musk just doesn't care that much about Twitter at this point. He's got bigger challenges/problems/goals (aka Starship). So might as well eat the cost. It's like buying a house way above asking for him. https://www.bloomberg.com/...
  • @alexeheath Alex Heath on x
    Twitter is definitely going to be better off being owned by someone who definitely doesn't want to own it https://www.bloomberg.com/...
  • @nycsouthpaw @nycsouthpaw on x
    Musk has already terminated that merger agreement at least three times that I remember, so I wonder how eager his lenders and co-investors are to reaffirm their commitments. Serious people actually set aside money when they do that, and this reversal might not last the week.
  • @jyarow Jay Yarow on x
    Defeat? Huge win to own Twitter. https://twitter.com/...
  • @nycsouthpaw @nycsouthpaw on x
    Any way the wind blows https://twitter.com/...
  • @gaberivera Gabe Rivera on x
    Elon-Twitter Peace: - Twitter formally part of Elon, as it has been since April 2022 https://twitter.com/...
  • @nixcraft @nixcraft on x
    And the drama continues. Musk Proposes to Proceed With Twitter Deal at $54.20 a Share https://www.bloomberg.com/... Buy it already and be done with all drama. Let us see how Elon turn Twitter into a good or bad product ;)
  • @matt_levine Matt Levine on x
    also lol https://twitter.com/...
  • @broderick Ryan Broderick on x
    Incredible 5D chess in action here https://twitter.com/...
  • @matt_levine Matt Levine on x
    Over the course of my efforts, it became clear to all involved that there was no internal control in place to track in real time the amount of newsletters offered and sent. https://www.bloomberg.com/...
  • @kantrowitz Alex Kantrowitz on x
    Hockey stick growth is back $twtr https://twitter.com/...
  • @star_okx @star_okx on x
    .@elonmusk time to kill the bots on the bird app https://twitter.com/...
  • @lukezim @lukezim on x
    he's famously never manipulated the market. i trust him https://twitter.com/...
  • @sherwiebp Sherwin Bryce-Pease on x
    It's all a little bit chaotic isn't it... https://www.bloomberg.com/...
  • @kurtwagner8 Kurt Wagner on x
    at least we'll always have the text messages
  • @kurtwagner8 Kurt Wagner on x
    Sounds like a letter was already submitted. Via @EdHammondNY + Jef Feeley. https://twitter.com/...
  • @zerohedge @zerohedge on x
    *TESLA SHARES PARE GAIN TO ABOUT 4%
  • @patrickmcgee_ Patrick McGee on x
    https://twitter.com/... https://twitter.com/...
  • @ivanthek @ivanthek on x
    Said by whom? A merger arb? https://twitter.com/...
  • @elonmusk Elon Musk on x
    Buying Twitter is an accelerant to creating X, the everything app
  • @elonmusk Elon Musk on x
    @LarckeningXuruo Twitter probably accelerates X by 3 to 5 years, but I could be wrong
  • @unsubtledesi Nupur J Sharma on x
    Here's hoping Musk does something to weed out the bots and un-shadow ban thousands of accounts from across the globe, partially silenced for speaking truths uncomfortable to the “establishment”. https://twitter.com/...
  • @jgriffiths James Griffiths on x
    1. Musk makes things up all the time 2. There's a reason WeChat has only found success in China 3. People don't want an everything app, only tech companies think they do https://www.bloomberg.com/...
  • @alexoimas Alex Imas on x
    @SilvermanJacob X was one of Musk's first companies which he used to acquire PayPal (which was headed by Thiel). He was trying to make it the “everything” platform even then but Thiel and others buckled and forced him out.
  • @saylor Michael Saylor⚡️ on x
    @elonmusk If you eliminate the bots, the humans will thank you.
  • @alexeheath Alex Heath on x
    Musk previewed this strategy to Twitter employees when he spoke to them in June https://www.theverge.com/... https://twitter.com/...
  • @neilcybart Neil Cybart on x
    Elon's first tweet after saying he will go through with his initial offer for Twitter. Seems like he is attempting to spin this as a “I'm actually not buying Twitter for Twitter but rather because it will help me build something different” thing. https://twitter.com/...
  • @qwongsj Queenie Wong on x
    Define “everything app.” https://twitter.com/...
  • @chafkin Max Chafkin on x
    This is basically true (paypal merger was 50/50 musk wound up with more equity.) elon was trying pushing paypal to rebrand to X and become an internet bank. Dot com downturn and Peter Thiel's ambition intervened https://twitter.com/...
  • @bigblackjacobin Edward Ongweso Jr on x
    he will sell twitter in 5-8 years at a loss https://twitter.com/...
  • @daveleeft Dave Lee on x
    So there's the pitch — a Chinese-style super app? Many have tried... https://twitter.com/...
  • @silvermanjacob @silvermanjacob on x
    This is funny because it was probably made up five minutes before, and because for years Zuck and others have talked about emulating WeChat (a Chinese “everything app") but have failed to do so because it won't work here/too late for this market. https://twitter.com/...
  • @pranavdixit @pranavdixit on x
    Far-right Twitter accounts in India that regularly spew hate speech are already salivating at the prospect of a Musk-owned Twitter. https://twitter.com/...
  • @keitholbermann Keith Olbermann on x
    Is “X” in the room with us right now, Elon? https://twitter.com/...
  • @mrandyngo @mrandyngo on x
    Please give me the opportunity to show you how the platform was & is used by violent extremists to organize & support criminality. https://twitter.com/...
  • @karaswisher Kara Swisher on x
    He is essentially talking about a “super app,” which is common in China but not the U.S. and might include payments, subscriptions, entertainment etc. It's the right idea but hard to pull off. Also, X is the name of his first significant company back in the day. https://twitter.c…
  • @harrymccracken Harry McCracken on x
    Apps such as WeChat show that there's an appetite for everything apps, at least in some parts of the world. But the concept hasn't has any traction in the U.S. If anything, Facebook and Messenger, the closest thing we have, have been shedding features. https://twitter.com/...
  • @steinkobbe @steinkobbe on x
    @elonmusk This is so lazy even your fans have to know it's nonsense talk
  • @melissakchan Melissa Chan on x
    Don't get how Elon Musk can push Russian talking points, obsess over creating an “everything” app he's compared to China's WeChat, and attempt a takeover of a social media platform in order to control the means as much as the message and folks don't see the autocracy there.
  • @pitdesi Sheel Mohnot on x
    My friends who were early at PayPal tell me Elon was OBSESSED with using https://x.com/ instead of the name PayPal (which I totally get, it's a 1 letter domain!). Now he's gonna get his chance to use it https://twitter.com/...
  • @donie Donie O'Sullivan on x
    “Donald Trump will return to Twitter, along with a swarm of other right-wing culture warriors,” @kevinroose writes https://www.nytimes.com/...
  • @jaycaruso Jay Caruso on x
    “Twitter, more so than other social media platforms, has a vocally progressive work force and many employees who are deeply invested in the company's mission of promoting ‘healthy conversation.’” https://www.nytimes.com/... https://twitter.com/...
  • @carnage4life Dare Obasanjo on x
    “When a management with a reputation for brilliance tackles a business with a reputation for bad economics, it is the reputation of the business that remains intact.” - Warren Buffett https://www.nytimes.com/...
  • @riggsreport @riggsreport on x
    and of course, a biggie here: *MUSK: OFFER CONTINGENT ON RECEIPT OF PROCEEDS OF DEBT FINANCING
  • @wholemarsblog @wholemarsblog on x
    Banks financing @elonmusk Twitter deal face hefty losses https://www.reuters.com/...
  • @thepacketrat Sean Gallagher on x
    Looking forward to the Lehman Bros style collapse that comes as a result of this hell site. https://twitter.com/...
  • @ferrotv Jonathan Ferro on x
    “They promised a maximum interest rate of about 11.75% on the unsecured bond portion, Bloomberg reported, but CCC debt now trades on average at around 15%, according to Bloomberg data” @LivRaiReports https://www.bloomberg.com/... https://twitter.com/...
  • @levfincynic @levfincynic on x
    So, looks like banks promised a 11.75% cap for the unsecured bonds (planned cap structure is $6.5 bn term loans, $3 bn secured bonds, and finally $3 bn of unsecured bonds). this is fine.gif https://twitter.com/...
  • @riskreversal Dan Nathan on x
    Read the Room. “Twitter debt package announced in April includes a $6.5bn leveraged loan, $3bn of secured bonds, and another $3bn of unsecured bonds, with the latter particularly tricky to sell in recent months as the capital structure is riskier” https://www.bloomberg.com/...
  • @artypapers @artypapers on x
    LMAO at the banks paying for this loser deal. https://www.bloomberg.com/...
  • @lisaabramowicz1 Lisa Abramowicz on x
    The Twitter debt package is the largest in a roughly $51 billion pipeline of risky committed financings that banks need to sell: DB research. It threatens to fuel a wider fallout in credit markets at a time when new issues have come to a virtual standstill https://www.bloomberg.c…
  • @compoundingcap1 @compoundingcap1 on x
    If terms of original $12.5B $TWTR financing package remain, bankers “are potentially on the hook for hundreds of millions of dollars of losses.” On the $3B of unsecured, banks committed to a max interest rate of 11.75%. CCC debt today trading at 15%. https://www.bloomberg.com/...…
  • @claireeboston Claire Boston on x
    There is always a debt angle!! tl;dr: twitter fine, banks extremely not fine https://www.bloomberg.com/...
  • @patrickw Patrick W. Watson on x
    Maybe not coincidence Musk was going to be deposed this week. Answering questions about Twitter under oath is no doubt something he would like to avoid. https://www.axios.com/...
  • @adammilstein Adam Milstein on x
    Twitter is likely weighing a settlement with Elon Musk as they barrel toward a trial in Delaware court later this month over their tortured $44 billion acquisition deal https://www.businessinsider.com/ ...
  • @reckless Nilay Patel on x
    Elon says he'll close the Twitter deal if the court adjourns the trial, which... well why would the court or Twitter agree to that after all this time? Is this some Delaware procedural thing? https://t.co/Ou71uN53bm
  • @theryanford Ryan Ford on x
    “I'd love to buy Twitter now. Oh wait but I can't because there's current legal action against me. Better drop the suit.” https://twitter.com/...
  • @reckless Nilay Patel on x
    Like normally you just say hey court, here's the settlement agreement between the parties, and the court says, cool, case dismissed. You don't ask the court to stay the case and adjourn the trial before you've settled, and definitely not as a precondition of settling
  • @chancery_daily @chancery_daily on x
    new letter decision re search protocol on the Zatko document collection has some interesting information about a new “May 6 email” ... let's check it out. also: “yet another” lol 1/ https://twitter.com/...
  • @kylerrobbins Kyle Robbins on x
    ah there we go https://www.theverge.com/...
  • @kiey D.M. Moore on x
    oh, so that's why he's trying to unrenege on the deal https://twitter.com/...