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

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.