Mergers & Acquisitions are No Joke, and Musk Violated 2 Contractual Obligationsby@legalpdf

Mergers & Acquisitions are No Joke, and Musk Violated 2 Contractual Obligations

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Twitter v. Elon Musk Court Filing by Potter Anderson & Corroon LLP, July 12, 2022 is part of HackerNoon’s Legal PDF Series. This is part 20 of 31: .FACTUAL ALLEGATIONS- Defendants materially breach their obligations to work toward closing and refrain from unreasonable withholding of consent to operational changes

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Twitter v. Elon Musk Court Filing by Potter Anderson & Corroon LLP, July 12, 2022 is part of HackerNoon’s Legal PDF Series. You can jump to any part in this filing here. This is part 20 of 31.

Feature Image: Midjourney AI, Prompt “Merger & Acquisition”


FACTUAL ALLEGATIONS

VII. Defendants materially breach their obligations to work toward closing and refrain from unreasonable withholding of consent to operational changes

108. Consummating a merger agreement involves substantial effort and requires a serious deployment of resources by the seller. Defendants thus are subject to contractual obligations requiring them to take actions necessary to close and to allow Twitter to operate as efficiently as possible in the interim. Defendants violated two important obligations of this kind: the duty to work toward finalizing the financing for the closing and the obligation to consider consents reasonably.


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