[petesergeant]

Do you have a simple and short explanation for why?

[kgwgk]

The $1bn is in case something else makes the closing impossible (a regulatory decision, for example).

[achow]

Good explanation..

https://news.ycombinator.com/item?id=32027646

[saalweachter]

Because taking a corporation private is a pain in the ass.

Elon Musk signed a contract giving himself essentially no ability to back out, to force Twitter to consider his offer.