Esdiel
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Looks like Elon has finally decided to go ahead with the Twitter deal, and on the original terms/price previously agreed on.
This is on the conditions that: 1) Twitter ends the lawsuit brought against him (which is soon set for trial); and 2) that is he able to get the financing necessary... which I believe was always a condition of the deal.
Here's Musk's proposal/letter according to a SEC filing dated October 3rd, 2022:
Edit - It appears that Twitter intends to go ahead with the deal too according to the last sentence in this tweet:
This is on the conditions that: 1) Twitter ends the lawsuit brought against him (which is soon set for trial); and 2) that is he able to get the financing necessary... which I believe was always a condition of the deal.
Here's Musk's proposal/letter according to a SEC filing dated October 3rd, 2022:
https://www.sec.gov/Archives/edgar/data/1418091/000110465922105787/tm2227435d1_ex99-s.htmGentlemen:
On behalf of X Holdings I, Inc., X Holdings II, Inc. and Elon R. Musk (the “Musk Parties”), we write to notify you that the Musk Parties intend to proceed to closing of the transaction contemplated by the April 25, 2022 Merger Agreement, on the terms and subject to the conditions set forth therein and pending receipt of the proceeds of the debt financing contemplated thereby, provided that the Delaware Chancery Court enter an immediate stay of the action, Twitter vs. Musk, et al. (C.A. No. 202-0613-KSJM) (the “Action”) and adjourn the trial and all other proceedings related thereto pending such closing or further order of the Court.
The Musk Parties provide this notice without admission of liability and without waiver of or prejudice to any of their rights, including their right to assert the defenses and counterclaims pending in the Action, including in the event the Action is not stayed, Twitter fails or refuses to comply with its obligations under the April 25, 2022 Merger Agreement or if the transaction contemplated thereby otherwise fails to close.
Edit - It appears that Twitter intends to go ahead with the deal too according to the last sentence in this tweet:
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