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by ceejayoz 1476 days ago
Incorrectly.

> The Merger Agreement also provides that Twitter, on one hand, or Parent and Acquisition Sub, on the other hand, may specifically enforce the obligations under the Merger Agreement, except that Twitter may only cause Mr. Musk’s equity financing commitment to be funded in circumstances where the conditions to Parent’s and Acquisition Sub’s obligations to consummate the Merger are satisfied and the debt and margin loan financing is funded or available. As described above, if the conditions to Parent’s and Acquisition Sub’s obligations to complete the Merger are satisfied and Parent fails to consummate the Merger as required pursuant to the Merger Agreement, including because the equity, debt and/or margin loan financing is not funded, Parent will be required to pay Twitter a termination fee of $1.0 billion.

https://www.sec.gov/Archives/edgar/data/1418091/000119312522...

1 comments

Ugh, yes, nobody is disputing that. The comment I replied to was using the common, but incorrect, understanding of that to be like a fee that musk would have to pay to cancel the deal, which is pointed out as being an incorrect understanding (and which the text that you quoted also points out is an incorrect understanding). Like, of course, if we just change the meaning of words, then things stated in response to those words may be incorrect.