The letter from Mike Ringler at Skadden's Palo Alto office, may be accessed in full, here. Hilarious. And here is a press report on the gravamen intended by it:
. . .Last month Musk said that he was unilaterally placed the deal on hold, which experts said he can’t do. If he walks away, he could be on the hook for a $1 billion breakup fee.
Musk’s latest maneuver shows how he is “looking for a way out of the deal or something that will get leverage for a renegotiation of the price,” said Brian Quinn, a law professor at Boston College. But Quinn said it’s unlikely to hold up in court since he already waived his ability to ask for more due diligence. . . .
It doesn't matter much that I come to the opposite short-term conclusion, from the one offered to Huff Po, by the esteemed BC law prof. . . because in the end, I think we both agree -- Musk has an unfettered right to pay his one billion and walk away.
No court will invalidate that clearly bargained for right, on each side. All Musk is doing now, is "papering-up" his reasons, in case a court says he acted solely to manipulate the price of Twitter, downward in his favor, for some lower priced future bid.
All very droll, sez Condor. . . smiling.
नमस्ते
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