Stephen Diamond spoke to MarketWatch about Elon Musk apparently suffering from buyer’s remorse and saying the deal is “on hold”.
“There is no procedural step in the closing of a company that is called ‘deal on hold,’ there is ‘no deal on hold’ built into the agreement,” said Stephen Diamond, an associate law professor at Santa Clara University.
“Getting cold feet is no sufficient basis to withdraw … so presumably at this point if he really wanted out he would have said so, and [Twitter] would demand the breakup fee,” Diamond said, adding that most of what Musk has been engaged in of late amounts to noise “to find some leverage to renegotiate the deal.”
