IMO the Twits have represented the company falsely and thus engaged in fraud. The value of the fraud is probably something like five or ten billion. There are probably way more bots and fake accounts than they have admitted and Twit knows all about them.
So the Twits may be defrauding not only Elon but their shareholders as well. They are in big trouble. The sale can't be finalized until it passes through a rigorous vetting process that will involve public regulators and the institutions Musk goes to to raise the cash he will want to borrow to complete the deal. (Although his net worth is way more than the price of Twit h'e's not going to liquidate a lot of TSLA to buy Twit - he'll borrow what he needs.) The banks won't lend without thorough DD.
So the fraud, if there is fraud, is going to be discovered. The sale will fail and the managers and directors involved are going to be in big trouble.
So at the moment, Twit is desperate to drag the whole thing out to infinity or failing that to just have Elon and his offer go away so they can get back to nusiness as usual.
IMO the Twits have represented the company falsely and thus engaged in fraud. The value of the fraud is probably something like five or ten billion. There are probably way more bots and fake accounts than they have admitted and Twit knows all about them.
So the Twits may be defrauding not only Elon but their shareholders as well. They are in big trouble. The sale can't be finalized until it passes through a rigorous vetting process that will involve public regulators and the institutions Musk goes to to raise the cash he will want to borrow to complete the deal. (Although his net worth is way more than the price of Twit h'e's not going to liquidate a lot of TSLA to buy Twit - he'll borrow what he needs.) The banks won't lend without thorough DD.
So the fraud, if there is fraud, is going to be discovered. The sale will fail and the managers and directors involved are going to be in big trouble.
So at the moment, Twit is desperate to drag the whole thing out to infinity or failing that to just have Elon and his offer go away so they can get back to nusiness as usual.
https://www.investopedia.com/articles/stocks/08/public-companies-privatize-go-private.asp