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In Reply to: Musk knew this going in posted by Dave_K on May 18, 2022 at 04:48:58:
"So why is he getting cold feet now?"
With the recent stock market sell offs and turning bearish, he's not going to close the deal with "funny money" but will expend much of his real wealth. Amplified by some of his investor friends pulling out to defend their portfolios.
If he just quits the deal, he has to pay them $1b for that. He's trying to make a case that he's backing out because what he agreed to wasn't a true representation of the company. If successful, it might allow a renegotiation, or to back out without paying the billion. If it works. It's a big "if" since he also damaged the stock price by violating the NDA which might limit his options.
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Follow Ups
- Because it isn't "funny money" anymore. - Bromo33333 07:44:43 05/18/22 (3)
- It's Not Over 'til It's Over - Inmate51 15:33:44 05/18/22 (2)
- What a fanboy......nt - Uncle Mike 02:42:36 05/19/22 (1)
- RE: What a fanboy......nt - tweaker456 03:05:49 05/19/22 (0)