For months, both the legal and financial worlds have had their eyes on the billionaire
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Musk is now trying to back out of the $44 billion deal, claiming Twitter refused to give him vital information. Twitter is trying to force Musk to follow through on the acquisition by taking it to court in Delaware, where earlier today a judge set an expedited trial date for October.
If this deal ultimately goes unconsummated, it may not be the only one. A contracting economy and declining stock markets mean that mergers and acquisitions that made sense during periods of expansion may no longer make sense.
On today’s episode of On The Merits, our weekly legal news podcast, Bloomberg Law’s Matthew Bultman and Bloomberg News’ Ed Hammond discuss what the Delaware Court of Chancery can really do in Twitter vs. Musk, what happens if Musk loses this case and why Twitter would still want to be owned by someone who is publicly attacking the company.
They also talk about the difficult future for the broader settlement market in an ailing economy — and what that could mean for lawyers who rely on it for billable hours.
Do you have any comments for this episode of On The Merits? Call us and leave a voicemail at 703-341-3690.
