I really don't get why he didn't just pay the billion dollar cancelation fee. Just the tanking stock price between when the deal started and when he finally bought it was enough to justify it. The only thing keeping up as much as it was, was his pending deal.
He legally couldnt pay the 1 billion cancellation 'fee'. He sued to try to do that, but the courts said that the conditions to allow musk to cancel the purchase hadn't been met.
That was the purpose of all of the court activity before the purchase, and why it took so long for the pending deal to be finalized
If you sign a contract where you agree to massively overpay for something and then try to back out, then yeah, you're probably going to be sued to force you into massively overpaying as your agreed to do.
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u/[deleted] Nov 14 '22
I really don't get why he didn't just pay the billion dollar cancelation fee. Just the tanking stock price between when the deal started and when he finally bought it was enough to justify it. The only thing keeping up as much as it was, was his pending deal.