Well... Again, "Billy The Kid", With a Scoop! But This May Yet Be... A Courtroom Ploy. We Shall See.

[From another of our properties -- orginal dateline 10.04.22.] Many outlets are reporting this morning that Elon has offered essentially the original deal (on price and structure) to the Twitter board. No official SEC filings have been made -- so take all that with a grain of salt. Updated -- late on Tuesday evening: confirmed in SEC filings, here.

This (Musk's show of bravado) could either moot the litigation, or be a ploy -- as follows. At law, in Delaware Chancery court (where the trial is slated for mid-October, at the moment), if Twitter were to later today or tomorrow... object to even small terms changes in Mr. Musk's "renewed" offer -- he might be empowered to walk away. There is a UCC contract doctrine which (while not directly applicable -- and I'm oversimplifying) holds that minor terms modifications, between sophisticates (like Musk and Twitter) will be resolved in favor of upholding the deal -- and not a strict, patrician construction -- of minor points. [The law in sum, favors holding people to the essential terms of struck deals.]

And, it could very well then grant Musk a free hall pass (no $1 billion kill fee) -- in court, if Twitter rebuffs him now. [It also says that Musk's lawyers are likely telling him he will lose in Delaware, and be forced to close the deal anyway. So. . . why not just bite the bullet?]

But I am most interested to see if this ultimately tanks Tesla's NASDAQ price, since if he goes forward with the $54 a share offer, he will be deeply distracted (taking Twitter private, and revamping its operations will be a full time job!). . . and not fully running Tesla.

This will be. . . fascinating -- two for two, in as many days, for Billy the Kid!

Onward, grinning. . . .

नमस्ते