For months now, both the legal and financial worlds have had their eyes glued to billionaire Elon Musk’s theatrical attempt to buy (or not) the social media giant Twitter.
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Musk is now trying to pull out of the $ 44 billion deal, claiming that Twitter refused to give him vital information. Twitter is trying to force Musk to complete the purchase by taking him to court in Delaware, where a judge today set an early trial date for October.
If this deal is ultimately not consummated, it may not be the only one. A shrinking economy and free-falling stock markets mean that mergers and acquisitions that made sense during times of expansion may no longer make sense.
In today’s episode of On The Merits, our weekly legal news podcast, Bloomberg Law’s Matthew Bultman and Bloomberg News’s Ed Hammond discuss what Delaware Chancery Court can really do in Twitter v. Musk, what if Musk loses this case and why Twitter would also want to be owned by someone who is publicly attacking the company.
They also talk about the difficult future for the broader business market in a struggling economy and what it could mean for lawyers who rely on it for billable hours.
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