The harassment claims probably aren't enough to scuttle the transaction. Maybe they should be, though.
Well, it’s not, and that comes from the fresh amount of uncertainty injected into Elon Musk’s will-he-won’t-he buyout of Twitter on Thursday evening when Insideragainst him. His SpaceX allegedly paid a former company flight attendant $250,000 to silence her after he exposed his penis to her during a massage and propositioned her for sex.
The other way this works involves the shareholder vote on the merger, which will happen next Wednesday, May 25. Maybe if there’s enough outrage over the allegations, shareholders will reject the deal—even if the board doesn’t change its recommendation. The vote will hinge on the actions of Twitter’s major institutional shareholders and not really you, average Twitter investor at home, at all.
Twitter will get a chance to sue Musk by arguing he’s violating the “specific performance” clause in the merger agreement by unjustifiably walking away from the agreed-upon $54.20. A lot will need to go right in Twitter’s favor for that argument based on specific performance to work. The deal will need to finish closing without Musk somehow further gumming up the process. A shareholders will have to approve it. Then a judge would get to weigh in on specific performance.
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